The story
Founded in 1870, Banco de Bogotá is the oldest commercial banking institution in Colombia.
In 1967, Banco de Bogotá went international and opened its first office in Panama.
In 1968, the merger with Banco de los Andes became effective. In 1992, the acquisition of Banco del Comercio took place. In 2006, Megabanco was acquired.
Software implementation
On June 20, 2006, Fidelity National Information Services (FIS), Inc. announced the successful implementation of its retail lending software package, Advanced Lending Solution (ALS) – Servicing Manager at Banco de Bogotá. The efforts of the bank's technical consultants and FIS experts enabled Banco de Bogotá to be the first financial institution in its market to introduce a new personal loan product, Prestamo Personal Libre Destino.
Banco de Bogotá has utilized FIS' deposits, savings, financial management and architecture to support its retail banking operations since 1988. Following a change in local banking regulations in the fourth quarter of 2005, the bank needed to upgrade its lending system quickly to launch a new consumer loan product into the market. Banco de Bogotá introduced the new product in February, ahead of its competitors, and captured a significant share of the market.
The bank selected FIS' ALS-Servicing Manager, a customizable loan processing application that supports customer and account servicing requirements for the life of the loan. The Banco de Bogotá team quickly adjusted the features for the Prestamo Personal Libre Destino, using ALS-Servicing Manager's real-time product parameter facility, to select processing options that addressed interest accruals, late charges and payment posting options. The bank expected to attract 3,000 new customers a month with this new personal loan product. It is also planning a follow-up phase, which will utilize ALS-Servicing Manager for a new line of credit product and add additional inquiry transaction functionality for the teller system.
Recent history
In december 2025, the bank announced that it had acquired Itaú's retail banking division in Colombia and Panama, adding 270,000 clients to its portfolio.
From Wikipedia’s article on Banco de Bogotá, shared under CC BY-SA 4.0.4