Tenpo, Credicorp’s digital banking subsidiary in Chile, has gained operating authorisation from Chile’s Comisión para el Mercado Financiero (CMF), becoming a licenced neobank.
Credicorp is a Peru-based financial services holding company operating in Chile, Colombia, Bolivia, Panama, and the US. With the approval, its subsidiary becomes a licensed neobank under the country’s General Banking Law, operating as a regulated bank which offers core banking solutions like checking accounts, customer loans, and time deposits.
Supporting Chile with new banking solutions
Tenpo will begin its operations in H1 2026. Chile grants only one type of banking licence, meaning that Tenpo will operate under the same supervisory requirements as any traditional bank in the country. The process began in January 2024, when the neobank submitted its application, receiving provisional authorisation in October 2024. The legal existence was granted in February 2025, and now the final authorisation is complete.
As a bank, the company will expand its offering to include new financial solutions alongside its existing ones. Millions of users will be able to upgrade to the neobank experience at no cost, directly through the app. Credicorp believes that, beyond local impact, the initiative reflects the potential of solutions that respond to ever-evolving user needs and demands with a differentiated proposal. The company will further support Tenpo and its journey in driving financial inclusion and creating more opportunities for millions of individuals in Chile.
The move also strengthens the regional strategy the company has been developing through its corporate venture capital arm, Krealo, which supports growth initiatives aligned with Credicorp’s goal to improve lives and accelerate the country’s transformation.
Tenpo expressed positive sentiments regarding the milestone, saying that becoming one of Chile’s first neobanks allows it to build a wider range of financial solutions and contribute to financial developments in the country.
