Towerbank
Towerbank International Inc. is a Panama-based private bank serving retail, corporate, and high-net-worth clients with deposit, lending, card, securities, payments, and crypto-friendly USD banking products across Panama and nine Latin American countries via its ikigii app.
- Company typePrivate
- Founded1970
- HeadquartersPanama City, Panama
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Towerbank does
Towerbank International Inc. is a Panama-based private bank founded in 1970/71, licensed by the Superintendencia de Bancos de Panama and operating a Cayman Islands subsidiary regulated by CIMA. It serves retail, corporate, and high-net-worth clients with a full-stack product set that includes checking and savings accounts, Visa and Mastercard credit and debit cards, personal loans, mortgages, trade finance, structured credits, letters of credit, fiduciary services, leasing, and a licensed securities brokerage (TowerSecurities). Technology platforms include the Tower Pay merchant suite (TowerCart, TowerLink, TowerQR, TowerAPI) for eCommerce payments and the ikigii mobile app, which provides USD banking combined with cryptocurrency on/off-ramp functionality across nine Latin American countries, supported by a BitGo integration for digital asset infrastructure.
The bank is family-controlled (Kardonski family) and operates five physical branches in Panama City alongside its digital channels. Revenue is generated from net interest income on lending, account and transaction fees, card annual and interchange fees, eCommerce payment processing margins, brokerage commissions, and emerging digital asset service fees. Recent strategic emphasis has been on regulated crypto-friendly banking, institutional digital asset services, and regional expansion of the ikigii platform, with the company building dedicated AI/data and digital asset leadership functions to support these initiatives.
Towerbank firmographics
Firmographics- Name
- Towerbank
- Legal name
- Towerbank International Inc.
- Website
- https://towerbank.com
- Company type
- Private
- Founded year
- 1970
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Towerbank International Inc. is a Panama-based private bank serving retail, corporate, and high-net-worth clients with deposit, lending, card, securities, payments, and crypto-friendly USD banking products across Panama and nine Latin American countries via its ikigii app.
- Ownership category
- akta.pro rank
Towerbank industry classification
Industry- Product category
- Retail and Commercial Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Digital Banking & Neobank Platforms (BPAMAFAD)
- akta.pro secondary industries
- Crypto Borrowing & Margin Credit Facilities (FSADAFAC), Tokenized Bank Deposit & Commercial Bank Money Issuers (FSADADAB), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)
Keywords
Where Towerbank is headquartered
LocationHeadquarters
- HQ city
- Panama City
- HQ country
- Panama
- HQ region
- Latin America
Offices6 records
Markets served
Towerbank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others
Revenue model
- Interest Income: Revenue from lending activities including personal loans, mortgages, auto loans, commercial loans, and credit facilities. Interest rates vary by product type.
- Account and Transaction Fees: Monthly maintenance fees, inactivity charges, overdraft fees, wire transfer commissions, ATM withdrawal fees, and foreign currency conversion charges.
- Card Services: Annual membership fees for Visa and Mastercard debit and credit cards (Classic, Gold, Infinite tiers), plus fraud protection insurance charges.
- eCommerce Payment Processing: Transaction commissions from Tower Pay payment solutions for merchants, including 3.75% transaction fees plus additional international fees.
- Investment Services: Brokerage commissions from TowerSecurities for trading local and international securities, mutual funds, and fixed income products.
- Digital Asset Services: Services related to cryptocurrency custody, trading, and lending through the ikigii platform for crypto-friendly account holders.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Current Account tiers for individuals and corporations with minimum balance requirements |
| Subscription | Monthly | Savings accounts with tiered interest rates |
| Subscription | Annual | Credit cards with annual fees and interest rates |
| Subscription | Annual | Debit cards with annual membership |
| Subscription | Monthly | Fixed term deposits with competitive rates |
| Transaction based/ take rate | Pay-as-you-go | International wire transfers |
| Transaction based/ take rate | Pay-as-you-go | eCommerce payment processing for merchants |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels8 records
Towerbank product offering
Product offeringCore offering
Towerbank International Inc. is a Panama-based licensed bank providing personal and corporate banking services including checking and savings accounts, debit and credit cards, mortgages, auto and personal loans, term deposits, and foreign trade financing. It operates the ikigii mobile application for USD and cryptocurrency (BTC, ETH, USDT, USDC) banking across nine Latin American countries, the Tower Pay eCommerce payment processing suite, and TowerSecurities investment brokerage, complemented by trust, leasing, and international wire transfer services.
Product overview
Towerbank is a Panama-based international bank offering a comprehensive suite of financial products and services across Latin America. The portfolio centers on the ikigii mobile app for dual-currency (USD and crypto) banking, supported by TowerOnline as the digital banking platform. The product range spans checking and savings accounts including specialized Crypto-Friendly accounts and tiered savings (TowerPlus, TowerMax, TowerKids), credit cards (VISA Classic, Gold, Infinite; secured credit card; VISA and Mastercard debit), term deposits (Deposito a Plazo Fijo), and lending products (auto loans, mortgages, personal loans, leasing). For business clients, Towerbank provides TowerPay eCommerce payment solutions (TowerCart, TowerLink, TowerQR, TowerAPI), investment/brokerage services through TowerSecurities, structured credits, foreign trade financing, trust services (Fideicomiso), and international wire transfers. Card-linked promotions and loyalty programs (Avianca LifeMiles, Every Day Value cashback, Priceless Cities) round out the consumer offering. Security features include Click to Pay tokenization and CVV Dinamico (CVVKey) for VISA cards.
Differentiator
Problem solved
Functional benefit
Brands
- ikigii: Digital asset and cryptocurrency banking platform enabling users to manage money in dollars or crypto; available in Panama, Bolivia, Colombia, Costa Rica, Guatemala, Honduras, Argentina, Mexico, and Peru.
- Tower Pay
- TowerSecurities
- TowerLeasing
- TowerTrust
Products and services
- ikigii Mobile Banking App Mobile banking application allowing users to manage money in both US dollars and cryptocurrency (BTC, ETH, USDT, USDC), with crypto-backed lending capabilities. Backed by Towerbank International Inc. and available in Panama, Bolivia, Colombia, Costa Rica, Guatemala, Honduras, Argentina, Mexico, and Peru.
- TowerOnline Online banking platform providing account access, transfers, statements, and transaction management for Towerbank customers.
- Cuenta Corriente Crypto-Friendly A US dollar checking account designed for crypto-native clients with a $100 minimum opening balance for individuals and corporations, supporting both USD and cryptocurrency (USDT, USDC, BTC, ETH) transactions.
- Cuenta de Ahorro Crypto-Friendly A savings account with a 4.00% interest rate for balances of $1,000 or more, designed for crypto-native clients.
- Cuenta de Ahorro TowerPlus Savings account with 3.25% interest rate for balances starting at $5,000; minimum opening deposit of $5,000.
- Cuenta de Ahorro TowerMax Savings account with 3.50% interest rate for balances from $2,500 to $250,000; minimum opening deposit of $2,500.
- Cuenta de Ahorro TowerKids Savings account designed for children with a 2.50% interest rate starting from $100; minimum opening deposit of $100.
- Depósito a Plazo Fijo Fixed-term deposits with interest rates ranging from 3.00% to 4.50% depending on term length (1 month to 2 years) and payment frequency. Minimum opening deposit of $10,000.
- VISA Credit Cards Towerbank issues VISA credit cards in three tiers: VISA Classic (annual fee $60, nominal rate 22.00%), VISA Gold (annual fee $90, nominal rate 19.00%), and VISA Infinite (annual fee $210, nominal rate 14.00%), all with global purchasing capabilities, fraud protection, and brand benefits including travel insurance.
- VISA Debit Cards VISA debit cards with 10 exclusive designs, free card delivery nationally, free withdrawals at Clave ATMs in Panama, and global payment capabilities. Daily withdrawal limit of $1,000 and daily purchase limit of $5,000.
- Mastercard Debit Cards Mastercard debit cards with unlimited free withdrawals at all ATMs in Panama, global purchasing, and free card delivery nationally, offered in multiple design variants.
- Tarjeta de Crédito Garantizada Secured credit card where the credit limit is determined by a collateral guarantee in US dollars or stablecoins (USDT, USDC), allowing dollar-denominated credit card usage regardless of nationality or credit history.
- Préstamo de Auto Auto financing loan with interest rates starting from 7.25%, financing up to 80% of the vehicle value, and terms up to 7 years.
- Préstamo Hipotecario Mortgage loan for primary residence with financing up to 90%, terms up to 30 years, and interest rates starting from 7.00%; also available for second homes and investment properties starting from 7.50%.
- Préstamo Personal Personal loan with interest rates starting from 10% and terms up to 6 years.
- Leasing Financial leasing product with interest rates starting from 9%, 1% FECI, closing fees of 1% (minimum $350), and a pre-cancellation fee of 2 installments.
- Tower Pay Electronic payment processing solutions for merchants including TowerCart (online checkout), TowerLink (payment linking), TowerQR (QR code payments), and TowerAPI (API-based integration). Transaction commissions start from 3.75% per transaction plus additional international fees.
- Inversiones / TowerSecurities Investment brokerage services through TowerSecurities, Inc. providing access to local and international markets including local equities, fixed income, international equities, penny stocks, structured notes, hedge funds, and mutual funds. Regulated by the Superintendencia del Mercado de Valores as a securities house.
- Transferencias Internacionales International wire transfer service for receiving and sending funds in USD and EUR. Correspondent banks include Wells Fargo, Citibank, JP Morgan for USD and Banco de Sabadell for EUR.
- Fideicomiso (Trust Services) Trust services for structuring and administering trusts, including corporate trust arrangements for companies, offered through the TowerTrust subsidiary.
- Créditos Estructurados y Financiamiento Corporativo Structured credit products for corporate clients including working capital financing, medium-term loans, credit lines, letters of credit, and foreign trade financing across Latin American markets.
- Cajas de Seguridad Safe deposit box rental service available in three sizes: 10x10 inches ($250/year), 5x10 inches ($200/year), and 3x5 inches ($100/year).
Companies that use Towerbank
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles5 records
Towerbank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Towerbank partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- BitGocoreBitGo launched a modular bank-ready operating model for digital asset infrastructure. TowerBank is one of the financial institutions where BitGo's product is deployed, providing institutional-grade custody, trading, staking, stablecoins, and wealth management services within a compliance and governance framework.
- Avianca LifemilesminorLoyalty program partnership allowing Towerbank cardholders to convert purchases into Avianca Lifemiles for travel rewards. Partnership enables customers to earn miles on everyday spending.
- Wells Fargo Bank, N.A.minorCorrespondent banking relationship for international wire transfers in USD. SWIFT code PNBPUS3NNYC, ABA 026005092 for transfers to Towerbank accounts.
- Citibank NAminorCorrespondent banking relationship for international wire transfers. SWIFT CITIUS33, ABA 021000089 for USD transfers.
- JP MorganminorCorrespondent banking relationship for international wire transfers. SWIFT CHASUS33, ABA 021000021 for USD transfers.
- Banco de Sabadell, S.A.minorCorrespondent banking relationship for international transfers to/from Spain. SWIFT BSABESBB for EUR transfers.
- VisacoreVisa card issuing partnership providing Classic, Gold, Infinite, and Business credit and debit cards with global acceptance and fraud protection services.
- MastercardcoreMastercard issuing partnership providing debit cards with global acceptance, Priceless Cities experiences, and cashback promotions for cardholders.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
Towerbank competitors and assessment
Company assessmentBroad incumbents
- Nubank: Latin America's largest neobank with operations across Brazil, Mexico, Colombia, and other markets. Comparable as a digital-first banking platform serving Latin American consumers, though at much larger scale and with broader retail focus.
- Mercado Pago: Latin American digital wallet and payment processor from MercadoLibre, operating across the region. Comparable as a digital financial services platform serving similar LatAm consumer and merchant segments with payments and credit products.
Emerging players
- Bitso: Latin America's largest crypto exchange, operating across multiple LatAm countries including several where ikigii is present. Comparable as a crypto-native financial services platform serving similar crypto-curious consumers in the same regional markets.
- Stablecorp (or similar crypto-banking-as-a-service): Companies in the crypto-banking infrastructure space that partner with traditional banks to offer digital asset services. Comparable as a peer in the niche of bridging regulated banking with crypto-native products, though typically operating as the technology provider rather than the bank itself.
Direct peers
- Caja de Ahorros: Panamanian state-owned savings bank with deep personal banking franchise. Comparable in operating geography and focus on retail/personal banking, with a similar role serving Panamanian consumers and SMEs.
- Banistmo: Panamanian commercial bank owned by Grupo Bancolombia, providing personal and corporate banking across Panama with strong trade finance capabilities. Comparable in operating geography, customer segments, and trade finance focus.
- Banco General: Panama's largest private bank offering comprehensive personal, corporate, and trade finance services. Directly comparable as a Panama-based commercial bank serving similar corporate and retail clients with traditional and digital offerings.
- BAC Credomatic: Central American bank present in Panama, Costa Rica, Guatemala, Honduras, Nicaragua, and El Salvador. Comparable as a regional commercial bank with similar personal/corporate banking and digital product offerings across Latin America.
- Davivienda Panama: Colombian bank Davivienda's Panama operations, providing commercial and personal banking. Comparable as a foreign-headquartered bank operating in Panama with similar corporate and retail focus.
- Global Bank Corporation: Panamanian commercial bank providing personal, corporate, and trade finance services from a Panama City base. Direct peer operating in the same domestic market with comparable customer segments and product range.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Towerbank social profiles
Digital presenceTowerbank compliance and trust
Trust signalCompliance5 records
Towerbank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Towerbank leadership team
Management profileNumber of profiles
Profiles19 records
Towerbank subsidiaries and ownership
Company hierarchySubsidiaries4 records
Towerbank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Towerbank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Towerbank
What does Towerbank do?
Towerbank International Inc. is a Panama-based licensed bank providing personal and corporate banking services including checking and savings accounts, debit and credit cards, mortgages, auto and personal loans, term deposits, and foreign trade financing. It operates the ikigii mobile application for USD and cryptocurrency (BTC, ETH, USDT, USDC) banking across nine Latin American countries, the Tower Pay eCommerce payment processing suite, and TowerSecurities investment brokerage, complemented by trust, leasing, and international wire transfer services.
Is Towerbank a public or private company?
Towerbank is a private company. It is classified as family owned and is currently operating.
When was Towerbank founded?
Towerbank was founded in 1970. It employs 101 to 250 people.
Where is Towerbank based?
Towerbank is headquartered in Panama City, Panama, in the Latin America region.
How does Towerbank make money?
Six revenue lines are on record. Interest Income is the primary driver. The others are account and Transaction Fees, card Services, eCommerce Payment Processing, investment Services and digital Asset Services.
Who are Towerbank's main competitors?
Broad incumbents on record are Nubank and Mercado Pago. Emerging players are Bitso and Stablecorp (or similar crypto-banking-as-a-service). Direct peers are Caja de Ahorros, Banistmo, Banco General, BAC Credomatic, Davivienda Panama and Global Bank Corporation.
Does Towerbank have an API?
No public API is recorded for Towerbank.
What industry is Towerbank in?
Towerbank's product category is Retail and Commercial Banking. Its primary akta.pro industry code is BPAMAFAD, Digital Banking & Neobank Platforms, with a secondary code of FSADAFAC, Crypto Borrowing & Margin Credit Facilities. Its NAICS code is 52211 and its SIC code is 6021.