The Credicorp holding company announced that its subsidiary Tenpo received operating authorization from the Financial Market Commission (CMF) of Chile. This milestone allows the entity to become the first neobank with a full banking license in that country, allowing it to operate with the same standards and capabilities as traditional banking, but under a 100% digital model.
This decisive step closes a rigorous regulatory cycle that began in January 2024 with the license application. After obtaining provisional authorization in October of that same year and authorization of existence in February 2025, the recent operating resolution by the CMF represents the culmination of the process. This permit enables the entity to begin its full banking operations, transforming the structure of the Chilean financial system.
Gianfranco Ferrari, CEO of Credicorp, stated that operations like Tenpo show the transformative potential of technology to respond to the new needs of users with a differentiated and sustainable value proposition.
In this sense, Ferrari reaffirmed that the holding company will continue to support Chile with a long-term vision, promoting financial inclusion and generating more opportunities for millions of Chileans.
“This is a milestone for the Chilean financial ecosystem and shows how innovation and technology can expand access to financial services in an agile, secure and people-centered way,” said Ferrari.
In addition, he noted that this evolution strengthens the regional commitment of Krealo, the corporate venture capital arm of Credicorp, from which scalable initiatives are promoted aligned with the purpose of improving lives and accelerating the changes that the region needs.
The commercial strategy
Tenpo Bank’s proposal will add innovation and new financial products to its digital ecosystem, including checking accounts, consumer loans and term deposits. For the more than 2.5 million current customers, the evolution will be offered to the neobank at no cost and in a simplified manner directly from the application.
“Today is a historic day for Tenpo and for Chilean banking. It has been approximately 20 years since a process of this type has been experienced and we are proud to be the first neobank in the country, allowing us to build a broader financial offer than the one we currently have,” stated Fernando Araya, CEO and Co-Founder of Tenpo.
“We aspire to be a benchmark in financial innovation, accompanying people at every stage of their life and building long-term trust,” he added.
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