Towerbank, founded in 1971, is a Panamabased bank offering personal, corporate, and investment banking services across Latin America. Known for its integrity and strategic growth, the bank has recently embraced digital innovation by launching Ikigii, a crypto wallet app powered by Appian, to support the rising demand for digital assets in the region.
Reimagine What’s Possible in Banking
Business Problem.
While attitudes toward cryptocurrency vary greatly in markets around the world, Towerbank knows its client base: it serves a population of Latin American clients that view digital assets as a way to protect against unstable regional currency. But many of them were using credit cards to buy crypto, risking the possibility of fraudulent transactions and card defaults. The bank was also at risk of noncompliance, which could result in steep fines and legal action against them. They decided to confront this challenge headon.
Appian Solution.
To mitigate risk and capture a new market, Towerbank created Ikigii, a first-of-its-kind hybrid crypto-fiat platform built on Appian. Appian functions as the bank's "crypto core," orchestrating all workflows and integrating with key systems like Mambu and Chainalysis for compliance.
To bring the Ikigii platform to fruition, Towerbank had to transform client onboarding first. They automated 96% of their onboarding processes, which previously took up to two weeks, reducing onboarding time to just a few minutes. Ikigii provides customers with a secure, integrated crypto wallet that lets them convert crypto to cash in seconds, then send it anywhere in the world via SWIFT. For the bank, it helps ensure regulatory compliance and reduce institutional risk.
- 30 seconds to convert crypto to cash
- 96% of onboarding processes automated
- 9x growth in users
Learn more.
Towerbank Wins Appian Innovation Award.
Towerbank: Reimagining Banking with a Crypto-fiat platform.
