Santander-Chile: Superdigital reached 100 thousand clients five months after launch

Rhea-AI Summary

Banco Santander Chile's (NYSE: BSAC) Superdigital App has rapidly gained traction, acquiring over 100,000 clients in just five months since its April launch. The app aims to enhance financial inclusion for nearly 4 million unbanked individuals in Chile, providing a fully digital banking experience. Its robust month-on-month growth is attributed to a simple on-boarding process and the digital shift prompted by COVID-19. The app enables users to conduct various financial transactions, such as payments and transfers, enhancing access to financial services across the country.

Positive

• Onboarded over 100,000 clients in five months since launch.
• Aims to provide financial services to 4 million unbanked individuals in Chile.
• Strong month-on-month growth driven by user-friendly on-boarding and COVID-19 digital transformation.
• Offers a range of financial services including payments, online purchases, and transfers.

Negative

• None.

• The Banco Santander App seeks to become the leading solution for financial inclusion for close to 4 million people in Chile who are not yet bankerized and that can, through this 100% digital account, have an instrument that allows them to manage their money and access a series of benefits. 
  

SANTIAGO, Chile, Aug. 31, 2020 (GLOBE NEWSWIRE) -- Banco Santander Chile’s (NYSE: BSAC) Superdigital App, has on-boarded over 100,000 clients in just 5 months since the launch in April of this year. This 100% digital innovation has had a strong month-on-month growth due to a series of factors, among them the simple and fast on-boarding process, universal biometric authentication and digital transformation of our clients driven by the COVID-19 effects.

To put the fast and successful growth of Superdigital in perspective, remember that during the first five months of the year, the banking system as a whole opened 34 thousand accounts.

Superdigital is a Fintech of Banco Santander that seeks to become the leading solution for financial inclusion in Chile. It is a banking and social ecosystem for making payments to contacts through chats, as well as also online purchases and payments. Clients can transfer to any bank account in the country, send money to ATMs, make and split payments, pool money with various contacts, top-up cellphones etc.

Also, Superdigital clients can use their virtual cards to buy and pay online or through national and international apps, without the need of a credit card. This allows for close to 4 million Chileans, foreigners and new generations to have access to the financial industry.

Miguel Mata, CEO of Santander Chile, affirmed that Superdigital “is an integral part of an ambitious strategy that aims to provide quality financial services to the largest possible amount of individuals and businesses. For this reason we launched Superdigital, for this reason we are innovating our value proposal for Life and for this reason we decided to shake the market with our acquiring network, Getnet, with which we will introduce greater competition to this industry, offering clients an attractive alternative. Our north is to continue deepening the bankerization of the country in a responsible manner through quality products and services with the best prices in the market.”

About Banco Santander Chile

Banco Santander Chile is the largest Bank in Chile in terms of loans. As of June 30, 2020, we had total assets of Ch$61,026,743 million (U.S.$74,296 million), outstanding loans net of allowances for loan losses of Ch$34,300,657 million (U.S.$41,759 million), total deposits of Ch$26,556,405 million (U.S.$ 32,331 million) and equity of Ch$3,694,818 million (U.S.$4,498 million). Our long-term credit risk rating were A1 by Moody's, A Fitch and A Standard & Poor's and A+ from JCR.

CONTACT INFORMATION
Robert Moreno
Investor Relations
Banco Santander Chile
Bandera 140, Floor 20
Santiago, Chile
Tel: (562) 2320-8284
Email: irelations@santander.cl 
Website: www.santander.cl 

FAQ

What is the Superdigital App by Banco Santander Chile?

The Superdigital App is a 100% digital banking solution aimed at providing financial inclusion for nearly 4 million unbanked individuals in Chile.

How many clients has the Superdigital App onboarded since its launch?

The Superdigital App has onboarded over 100,000 clients in just five months since its launch in April 2020.

What financial services does the Superdigital App offer?

The Superdigital App offers services such as making payments, online purchases, bank transfers, and using virtual cards for transactions.

When was the Superdigital App launched?

The Superdigital App was launched in April 2020.

What is the stock symbol for Banco Santander Chile?

The stock symbol for Banco Santander Chile is BSAC.