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, Prival sought a robust, modern solution to centralize and govern the data of the group's various entities. The strategy aimed to have a single source of truth, accessible to the different business teams, with the ability to scale according to its future needs.
Within the architecture deployed on AWS, Snowflake was chosen as the central Data Warehouse for its flexibility and easy integration, as well as its ability to simplify data management, reduce compute costs, and enable strong governance.
The implementation, carried out alongside IVCISA as a Snowflake partner, was key to accelerating the adoption process, training staff, and establishing a technology foundation that will allow Prival to advance toward new strategic objectives.
Before adopting Snowflake, Prival faced major challenges stemming from a fragmented data infrastructure. Each company in the group operated with its own systems, which made consolidating information difficult and led to delays in report generation and inefficient governance.
In addition, the lack of a complete solution prevented the implementation of good data-quality and access-control practices. The team had the knowledge, but the right tools were needed to scale its data model and support the group's strategic growth.
Prival sought a platform that offered not only performance and efficiency but also scalability and advanced governance. With IVCISA's support, the bank determined that Snowflake met all the key requirements, positioning it as the ideal option for implementing modern data governance and a future-ready architecture.
“With the old Data Warehouse, access to information was limited and the data-loading processes were slower, plus the gradual increase in data would mean more resources and higher costs.”
By adopting Snowflake as its central Data Warehouse, Prival consolidated the information of all its entities into a modern, efficient, and unified platform. This made it possible to eliminate data duplication, reduce costs, and facilitate access to a single version of the truth.
Internal teams now access data more quickly, which has improved decision-making and allowed the automation of processes that were previously manual. The process of integrating new data sources was reduced to an average of two weeks, speeding up the response to new initiatives.
The implementation carried out alongside IVCISA, a Snowflake partner, was key not only to ensuring efficient adoption of the solution and its alignment with Prival's strategic objectives, but also to providing the training needed for its sustainability. The result: an agile infrastructure ready to enable advanced analytics, artificial intelligence, and real-time data consumption.
“The combination of Snowflake and the tools already in place on AWS is driving us to develop the new businesses the organization has defined.”
