In 2023 and 2024, Banco Santander Chile enhanced its FX ecosystem to improve client experience from account opening to transaction completion. Key developments included launching several platforms: a new single-dealer platform with immediate settlement and robust security; an international transfer platform for easy, secure Swift transfers; and a 100% digital platform for individual transfers across Latam, the US and Europe. Additionally, the bank’s Más Lucas initiative offers basic accounts for unbanked and underbanked persons, and new digital foreign currency accounts (JPY, CNH, GBP, EUR, USD) enable retail and CIB customers to manage FX positions efficiently, supported by digital and voice services.
Additionally, the bank has expanded its application programming interface (API) distribution in key Latin American markets, including Chile, with over $3 billion executed through newly created APIs and strong client adoption. A renewed, tech-enhanced single-bank platform was launched in H2 2023 in Chile, focusing on user experience and self-service. This led to significant volume growth and improved FX net promoter scores, rising from 65% to 75% in Chile.