Credicorp Ltd.: Tenpo Becomes Chile’s First Neobank After Receiving a Banking License

Core Insights - Credicorp's digital banking subsidiary, Tenpo, has received operating authorization from Chile's financial regulator, making it the first licensed neobank in the country [1][2] - Tenpo is set to begin operations in the first half of 2026, offering core banking products such as checking accounts, consumer loans, and term deposits [2][5] - The licensing process for Tenpo began in January 2024, culminating in final authorization after several stages, including provisional authorization and legal existence [4] Company Overview - Credicorp is the leading financial services holding company in Peru, with operations in Chile, Colombia, Bolivia, Panama, and the United States, and has a diversified business portfolio across various financial sectors [7] - Tenpo, founded in 2020, has rapidly grown its user base to over 2.5 million, focusing on a fully digital, technology-first model that emphasizes customer-centricity and financial inclusion [6]