Prival is a financial institution specialized in Private Banking and Investment Banking services, with operations in Panama and Central America, and part of Grupo Prival, a Panamanian financial group made up of Prival and Acerta Seguros.
Founded by experts in various financial fields, Prival focuses on offering personalized advice in wealth management and comprehensive financial solutions for individual and business clients.
Prival was created in 2010, when a group of entrepreneurs and bankers identified the need to improve the relationship between client and banker, which had been weakened by response times and fragmented service. Leveraging their clients' trust and their prior experience, they initially established a securities firm and later expanded their services into private banking.
Today, Prival continues to strengthen its value proposition through personalized service via dedicated financial advisors, consolidating its presence in new markets and offering a full range of banking, financial, and investment services, backed by licenses in Panama and Costa Rica.
As part of its digital-transformation strategy, Prival undertook a project to centralize the information of its entire financial ecosystem in a modern, secure, and scalable environment. The challenge was to replace its old data architecture, based on local data warehouses and fragmented solutions, with an infrastructure that would facilitate access, governance, and comprehensive analysis.
Together with IVCISA, as an AWS Advanced Partner, the bank deployed a solution based on cloud services that enabled the creation of a corporate Data Lake to centralize data from various sources and eliminate dependence on manual processes.
Today, Prival has a robust, flexible data infrastructure that allows teams to access and use information to generate business value. The solution represented not only an operational improvement but also a reduction in costs, positioning the bank to face its next technology challenges on a solid, scalable foundation.
Before implementing its new data architecture, Prival faced significant challenges stemming from a fragmented local infrastructure. Each entity in the group operated with independent systems, which made it difficult to consolidate information and access data in a timely manner.
The lack of a centralized environment limited analysis and governance capacity, generating manual processes such as Excel exports that hampered agile decision-making. The previous solution, based on a data warehouse, covered only part of the group and was not flexible enough to scale with the business's new needs.
In addition, the projected growth of the data teams and the increase in demand for simultaneous access were decisive in concluding that it was necessary to evolve toward a modern infrastructure that would integrate data from multiple sources, maintain control over the quality and traceability of information, and scale efficiently.
Prival needed a platform capable of supporting its regional growth and reducing operational complexity. These challenges marked the path toward the design of an effective strategy and the beginning of a strategic alliance with IVCISA as an AWS partner.
“We went from having a data warehouse with information from a single company to a Data Lake that consolidates data from the entire group… and at an even lower monthly cost.”
With the implementation of the Data Lake on AWS in collaboration with IVCISA, all of the group's information was consolidated into a single, reliable, and accessible source. This transformation reduced the time and costs associated with accessing, processing, and analyzing data.
The organization went from having various solutions to a platform that centralizes the data of the entire group, at a lower cost than it paid previously. As Javier Jiménez Ezpondaburu, VP of Transformation and Innovation at Prival, notes, “The goal was to have the information in one place, a single version of the truth. And that technology infrastructure had to serve the future.”
The process of incorporating new data sources has been significantly optimized; today it can be completed in an average of two weeks, including development, testing, and going into production. This allows a much more agile response to business needs and improves the visibility of information.
In addition to the technical and financial benefits, the collaboration with IVCISA empowered the bank's internal team through training and knowledge transfer, ensuring a sustainable, scalable adoption of the solution.
In addition to the technical and financial benefits, the collaboration with IVCISA empowered the bank's internal team through training and knowledge transfer, ensuring a sustainable, scalable adoption of the solution.
“IVCISA became a trusted partner; they were with us throughout the entire process, even in the most critical moments such as going into production.”
