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Three foreign banks began doing business in Chile with SONDA as their technology ally

Three foreign banks began doing business in Chile with SONDA as their technology ally

Having an experienced, certified technology ally that deploys the best industry practices is key to beginning to do business in a country as competitive in the financial sector as Chile is. That is why the three banks that have started up in Chile in the last few years have allied with SONDA for their IT applications, solutions and services.

In 2012, a major Brazilian investment bank applied for a banking license for Chile. The following year, it made the decision to implement the RealAIS Suite, a SONDA solution, that contains the following bank modules: investment management (domestic and foreign fixed-income, spot FX, liabilities (own bond issues), and derivatives); checking
accounts; trade accounts; deposits; payment engine; and financial risk.

Then in 2014, one of the largest banks in the world, headquartered in China, applied for a Chilean banking license and in August 2015, it made the decision to implement the domestic and foreign fixed-income module of the RealAIS solution and ERP FIN 700. The project was completed by December 2015, which the bank thought was a record implementation time, and in June 2016, the bank began to do business after an exhaustive audit by the regulator (SBIF).

In 2016, a second large Chinese bank, also world-renowned, applied for a banking license for Chile. The next year it purchased the integral solution proposed by SONDA. In 2018, the SBIF authorized and issued a license to this bank to operate in Chile, and a few months later it began operation.

Patricio Fuentes, Manager of Financial Systems at SONDA, said that “We are proud to be the supplier of applications for the core of the financial business and of the latest technologies. Being the drivers behind the opening of the last three banks setting up shop in Chile that operate under high standards has been a successful challenge, especially considering that these three banks are international”.

Published in: “Corporate IT”“E Banking News”“En Qué Invertir”