Tanner Banco Digital Granted Provisional Authorization by Chile’s CMF

This marks a significant step in the authorization process outlined in the General Banking Law, which comprises three stages: provisional authorization, existence authorization, and operational authorization.
Tanner Banco Digital Granted Provisional Authorization By Chile's Cmf
Derek Sassoon: Gerente General Tanner

To secure this provisional status, Tanner Servicios Financieros S.A., the future parent company of the bank, submitted a comprehensive proposal to the CMF on August 10, 2023. This submission included a business development plan for the first three years and evidence of the solvency and integrity of its founding shareholders, supplemented by various presentations until December.

This provisional authorization enables Tanner Banco Digital to prepare its formation as a banking company. To progress to the next stages, the entity must demonstrate compliance with legal and operational requirements as stipulated by the CMF.

Tanner Banco Digital’s application for provisional authorization is the first to be reviewed by the CMF Council since its integration with the former Superintendence of Banks and Financial Institutions in 2019. This development signifies a milestone in Chile’s financial market, paving the way for the emergence of a new digital banking player in the country.

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