for his part, Lopez Savi explained that “Banco Estado is a state bank, which has been in existence for 167 years in Chile.” “It is similar to the Banco Nación in Argentina. It is a commercial bank that is subject to the same rules as the rest of the bank. But in addition to its traditional commercial banking role, due to its governmental nature, we have a very strong line of work in financial inclusion and social inclusion. There are several lines of business that distinguish Banco Estado from other banks in Chile. We have 16 million customers in a country of 19 million people. with an almost complete regional presence.highlighted.
In this context, technology and mobile applications are essential for greater penetration across the territory. “We at the bank have been innovators over the decades. Lopez Safi, who confirmed, said: “We have set up a debit account called root account (similar to the DNI account), which we established in 2005, which was conceived in this money can be managed just by getting your document. It’s right. And this RUT account, in a country where bank access in 2005 was very low, has grown exponentially. The other great innovation was “neighbor box” And it is an extension of the bank: in 35,000 small businesses you can make transactions with the state bank as if it were a branch. In this aspect, technology has been a key component of financial inclusion.”.
for his part, Gonzalez He noted: “We have the mindset of promoting financial inclusion in all countries. Regionally, we currently serve 35 million end users. One in two Argentines has an app developed by Veritran: as a DNI and BNA + account. Financial inclusion is essential for social inclusion. Sometimes people are not aware of the difficulties of not having a bank account. In this sense, we are very proud of what has been achieved in Chile, Argentina and Mexico. And now we are also descending in Brazil.
In this context, as Gonzalez noted, the pandemic has greatly accelerated financial inclusion. “Although there are difficulties in some operations, it means the growth of digitization. We have come with annual growth of 40% or 50%, and in the pandemic we have seen rates of up to 100%. The accessibility of these types of accounts has encouraged the inclusion and integration of segments of the population into financial institutions which used to take much longer.”
