Home IT Solutions and Services Applications by industry Finance


The Voluntary Retirement Savings (VRS) scheme has experienced tremendous growth in recent years. As a result banks, insurance companies, fund managers and stock-brokers have developed business strategies to capture new customers interested in this savings scheme.

SONDA has developed an modular, programmable and integrated solution for this business niche. This service ensures greater efficiency in portfolio management and complies with all current legislation. Furthermore, it can be easily adapted to any changes or new types of VRS scheme in the future.

We provide financial institutions with a cutting-edge, flexible and adaptable product, designed to meet various needs within both the individual and collective VRS businesses. It was developed to be used by any company that has been authorized to sell a VRS, Collective VRS or Group VRS scheme (pension funds, banks, stock-brokers, insurance companies, etc.).

The SONDA VRS solution is divided into three sections:

  • Collective Voluntary Retirement Savings (CVRS) scheme.
  • Group Voluntary Retirement Savings (GVRS) scheme.
  • Individual Voluntary Retirement Savings (VRS) scheme.

The solution’s main benefits are:

  • The service complies with the pension reform that came into effect in Chile in October 2008.
  • The system can be integrated into an institution’s operations that manage individual accounts, without affecting the their production systems.
  • It is a flexible product that can be adapted to meet various needs arising across the VRS business.
  • It provides greater efficiency in managing portfolios.

The solution’s main features are:

  • Contract administration
  • Billing and collection administration
  • Automated payments
  • Individual account administration
  • Forms and certificates reported on a large scale
  • Account statements generated
  • Transfers to and from other managing entities
  • Management reports