Financial Data and Key Metrics Changes - The bank generated net income of CLP 1,053 billion, up 23% year-over-year, resulting in a return on average equity (ROE) of 23.5% and an efficiency ratio of 36% [16] - Net interest income increased by 11% year-over-year, while net interest margins (NIMS) remained stable at 4% [16] - The capital CET1 ratio stands at 11%, with a 60% dividend payout provision for the upcoming year [16][20] Business Line Data and Key Metrics Changes - Fee income grew by 9%, and financial transactions rose by 8%, with mutual funds increasing by 7% [16] - The recurrence ratio reached 63.7%, indicating that more than 60% of expenses are covered by fee generation [19] - Current accounts increased by 9% year-on-year, supporting a 5% growth in active clients and a 7% growth in total clients [18] Market Data and Key Metrics Changes - Chile's economy is estimated to have expanded by 2.3% in 2025, driven by a recovery in domestic demand, particularly in investment [8] - The unemployment rate closed the year at 8%, with an average of 8.5% over the year [9] - Inflation closed the year at 3.5%, with expectations for 2026 to remain marginally below the 3% target [10] Company Strategy and Development Direction - The company aims to attract and activate over 5 million clients by 2026, focusing on digital banking and operational efficiency [12] - The strategy includes broadening transactional and non-credit fee-generating services, targeting double-digit fee growth [12][14] - The company is positioned to deliver attractive value creation with ROEs above 20% and a dividend payout ratio of 60%-70% [14] Management's Comments on Operating Environment and Future Outlook - The management expects a gradual improvement in the economic environment, with a focus on large-scale investment projects and regulatory simplification [5][10] - The new administration is anticipated to provide additional stimulus to economic activity, particularly in the second half of 2026 [5][10] - The company is optimistic about maintaining a strong profitability outlook, with an expected ROE range of 22%-24% for 2026 [22] Other Important Information - The company received several recognitions, including being named the best bank in Chile by Euromoney and Latin Finance [16] - The MSCI ESG rating improved from A to AA, reflecting a strengthened sustainability profile [17] Q&A Session Summary Question: Economic and political outlook regarding tax rate reduction and loan growth expectations - Management indicated that tax reduction discussions may take time, with effects expected more in 2027 than in the short term [27] - Loan growth is expected to be mid-single digits, with steady growth in auto lending and gradual improvements in commercial and mortgage lending [30] Question: Guidance on cost of risk and expense growth - Cost of risk is expected to improve slightly to around 1.3%, with a focus on controlling expense growth to inflation plus 1% [40] - Efficiency improvements are being made through technological advancements and reducing routine tasks [40] Question: Getnet sale implications - The sale of Getnet is expected to strengthen its market position and provide ongoing revenue through a service agreement [32] - The transaction was approved with significant support from shareholders, ensuring business continuity and strategic alignment [34] Question: Sensitivity to inflation and risk-weighted assets - The company expects a 2% growth in risk-weighted assets, maintaining density levels consistent with loan growth projections [63] - Sensitivity to inflation is around CLP 8.5 billion, translating to approximately 15 basis points per 100 basis points of inflation [63] Question: Future synergies and partnerships - Management highlighted existing synergies with Santander Group and potential for further partnerships, particularly in asset management and consumer finance [50]

Financial Data and Key Metrics Changes - The bank generated net income of CLP 1,053 billion, up 23% year-over-year, resulting in a return on average equity (ROE) of 23.5% and an efficiency ratio of 36% [16] - Net interest income increased by 11% year-over-year, while net interest margins (NIMs) remained stable at 4% [16] - The capital CET1 ratio stands at 11%, with a 60% dividend payout provision for the upcoming year [16][20] Business Line Data and Key Metrics Changes - Fee income grew by 9%, with mutual funds increasing by 7% and a recurrence ratio reaching 63.7% year-to-date [16][18] - Current accounts increased by 9% year-on-year, supporting a 5% growth in active clients and a 7% growth in total clients [18] - Credit card transactions rose by 15%, indicating strong client activity and engagement [18] Market Data and Key Metrics Changes - Chile's economy is estimated to have expanded by 2.3% in 2025, driven by a recovery in domestic demand, particularly in investment [8][10] - The unemployment rate closed the year at 8%, with expectations for gradual improvement in labor market conditions [9][10] - Inflation closed the year at 3.5%, with expectations for it to remain marginally below the 3% target in 2026 [9][10] Company Strategy and Development Direction - The company aims to attract over 5 million clients by 2026 while enhancing engagement through a digital banking model [12][14] - The strategy includes broadening transactional and non-credit fee-generating services, targeting double-digit fee growth [12][14] - The focus remains on operational excellence and maintaining an efficiency ratio in the mid-30s [12][14] Management's Comments on Operating Environment and Future Outlook - The management expressed optimism about the economic recovery, expecting a more favorable business environment in 2026 [10][21] - The new administration is anticipated to implement policies that could stimulate economic activity, including potential tax reductions [6][10] - Confidence among businesses has improved, which is expected to positively influence investment and credit demand [7][10] Other Important Information - The bank received several recognitions, including being named the best bank in Chile by Euromoney and Latin Finance [16] - The MSCI ESG rating improved from A to AA, reflecting a strengthened sustainability profile [17] Q&A Session Summary Question: Economic and political outlook regarding tax rate reduction and loan growth expectations - Management indicated that tax reduction discussions may take time, with effects expected more in 2027 than in the short term [27][29] - Loan growth is expected to be mid-single digits, with steady growth in consumer lending and a reactivation in commercial lending anticipated [30][31] Question: Guidance on cost of risk and expense growth - Cost of risk is expected to improve slightly to around 1.3%, with a focus on controlling expense growth to inflation plus 1% [40][41] Question: Getnet stake sale implications - The sale of Getnet is expected to strengthen its market position and enhance growth prospects, with minimal impact on the bank's P&L [32][33] Question: Sensitivity to inflation and risk-weighted assets - The bank expects a 2% growth in risk-weighted assets, with a sensitivity to inflation of around CLP 8.5 billion [63][66]

Financial Data and Key Metrics Changes - Banco Santander-Chile reported a net income of CLP 1,053 billion for Q4 2025, representing a 23% year-over-year increase, with a return on average equity (ROE) of 23.5% and an efficiency ratio of 36% [16][19] - Net interest income, including readjustment income, increased by 11% year-over-year, while net interest margins (NIMs) remained stable at 4% [16][17] - The capital CET1 ratio stood at 11%, well above the minimum requirement of 9.08% [20] Business Line Data and Key Metrics Changes - Fee income grew by 9%, and financial transactions rose by 8%, with mutual funds increasing by 7% [16][18] - The recurrence ratio reached 63.7%, indicating that over 60% of expenses are covered by fee generation [19] - Current accounts increased by 9% year-on-year, supporting a 5% growth in active clients and a 7% growth in total clients [18] Market Data and Key Metrics Changes - Chile's economy is projected to grow by 2.3% in 2025, driven by a recovery in domestic demand, particularly in investment [8][10] - Inflation closed the year at 3.5%, with expectations for it to remain marginally below the 3% target in 2026 [9][10] - The unemployment rate closed the year at 8%, with expectations for gradual improvement in labor market conditions [9][10] Company Strategy and Development Direction - The company aims to attract over 5 million clients by 2026 while enhancing engagement through a digital banking model [12] - A focus on operational excellence and efficiency is emphasized, with a target efficiency ratio in the mid-30s [12][13] - The strategy includes broadening transactional and non-credit fee-generating services to support double-digit fee growth [12][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic environment, expecting gradual improvements in investment and credit demand [10][11] - The new administration's focus on large-scale investment projects and potential corporate tax reductions could stimulate economic activity [5][6] - The company anticipates a more favorable business environment in 2026, supporting mid-single-digit loan growth [22][23] Other Important Information - The company received several recognitions, including being named the best bank in Chile by Euromoney and Latin Finance [16] - The MSCI ESG rating improved from A to AA, reflecting a strengthened sustainability profile [17] Q&A Session Summary Question: Economic and political outlook regarding tax rate reduction and loan growth expectations - Management indicated that tax reduction discussions may take time, with effects expected more in 2027 than in the short term [28][29] - Loan growth is expected to be mid-single digits, with steady growth in auto lending and gradual improvements in the mortgage segment [30][32] Question: Guidance on cost of risk and expense growth - Cost of risk is expected to improve slightly to around 1.3%, with a focus on controlling expense growth to inflation plus 1% [41][42] Question: Getnet stake sale implications - The sale of Getnet is expected to strengthen its market position and provide a stable revenue stream for Banco Santander-Chile, with minimal impact on P&L [34][46] Question: Sensitivity to inflation and risk-weighted assets - The company expects a 2% growth in risk-weighted assets, with a sensitivity to inflation of around CLP 8.5 billion [66][70]

Banco Santander Chile 4Q25 results February 5, 2025 Important information Banco Santander Chile caution that this presentation contains forward looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995 . These forward looking statements are found in various places throughout this presentation and include, without limitation, statements concerning our future business development and economic performance . While these forward looking statements represent our judgment and ...

Core Insights - Tarabut has acquired Servable.dev, an AI engineering company, to enhance its transition from open banking infrastructure to an AI-integrated financial services platform [1][5] - The integration of Servable's AI functionalities aims to improve real-time decision-making tools for banks and fintech firms using Tarabut's platform [1][2] Group 1: Acquisition Details - The acquisition is intended to support the development of Tarabut's platform by incorporating AI capabilities [1] - Servable's technology will be integrated into Tarabut's platform for applications such as income verification, credit risk assessment, fraud detection, and compliance automation [2][5] Group 2: Technology Features - Servable offers features like a "Data Agent" for privacy-focused data creation, an "AI Lab" for model training, and an "AI Gateway" for deploying models in live environments [4] - The technology aims to help financial institutions implement auditable and explainable AI systems at scale [4] Group 3: Strategic Alignment - The addition of Servable's technology aligns with Tarabut's strategy of combining open finance services, instant payments, and AI capabilities under a single regulatory framework [5] - Tarabut is expanding into markets such as Saudi Arabia and the UAE, indicating growth ambitions [5][6] Group 4: Leadership Perspectives - Servable's CEO emphasized the importance of integrating AI technology into platforms that serve regulated institutions without compromising security [3] - Tarabut's CEO highlighted the goal of building world-class financial infrastructure in the region and enhancing access to finance through AI integration [6]

Core Insights - Nu Holdings Ltd. (NU) is leveraging AI to enhance risk mitigation and achieve efficient scalability, with CEO David Velez-Osomo highlighting an AI-first approach as key to low-cost product scalability and unlocking new revenue streams [1][9] Financial Performance - The company has experienced a sequential revenue growth of 14% in the third quarter of 2025, alongside a 19% increase in net income and a 200 basis points expansion in margins [2][3][9] - Monthly average revenue per active customer has reached $13.4, with a monthly activity rate of 83% [4] Customer Growth - Nu Holdings added 4.3 million customers in the third quarter of 2025, bringing the total customer count to 127 million, demonstrating the effectiveness of the AI-first strategy [4][9] AI Implementation - The company is utilizing AI for risk mitigation through the development of nuFormer, which enhances understanding of customer needs and allows for personalized recommendations without increasing risk [5][9] - The AI-first strategy is positioned as a digital banking moat, enabling the company to set benchmarks for data-driven financial offerings in the fintech market [6] Market Position and Valuation - NU's stock has increased by 20.2% over the past six months, compared to the industry's growth of 26.8% [7] - The company trades at a forward price-to-earnings ratio of 19.27X, which is above the industry average of 11.16X and higher than peers Credicorp and Itau Unibanco [11] - The Zacks Consensus Estimate for EPS for 2025 is set at 60 cents, with a recent upward revision of 3.4% [14]

Core Insights - Mastercard has partnered with Obol to launch AI-powered cash flow management tools for businesses in Australia, marking a significant expansion beyond transaction processing [2][10] - The collaboration aims to provide small and mid-sized enterprises (SMEs) with clearer views of their cash positions across various banks and platforms, leveraging Mastercard's open finance capabilities [3][10] - This partnership signifies Mastercard's shift from being solely a transaction network to a key player in financial data access and analytics, allowing earlier involvement in financial decision-making [4][10] Company Strategy - Mastercard's collaboration with Obol is designed to reduce integration complexity for businesses and enhance their financial decision-making processes [3][4] - The key question for this partnership is the potential for scale; widespread adoption could indicate a growing demand for AI-led cash flow tools in open banking markets [5] - Mastercard's strategy is to strengthen its ecosystem relevance and create opportunities beyond traditional card transactions [4] Competitive Landscape - Competitors such as Visa and American Express are also active in the fintech space, with Visa focusing on providing essential infrastructure for fintech innovation and American Express embedding digital payments and analytics within its platform [6][7] - Visa has positioned itself as a key fintech enabler, while American Express emphasizes enhancing customer engagement through partnerships and in-house innovation [6][7] Financial Performance - Over the past year, Mastercard's shares have increased by 14%, contrasting with a 4.4% decline in the industry [8] - Mastercard's forward price-to-earnings ratio stands at 30.08, above the industry average of 20.95, indicating a higher valuation compared to peers [12] - The Zacks Consensus Estimate for Mastercard's 2025 earnings suggests a growth of 12.5% from the previous year, with estimates for the current year at $16.43 and next year at $19.03 [14][15]

Core Trends - The transition from reactive, siloed systems to proactive, integrated systems is a key trend, with AI expected to reshape various sectors by anticipating needs rather than merely responding to requests [3][9] - Digital infrastructure is becoming foundational, with real-time processes and embedded services expected to be standard rather than innovative [4][9] - Regulatory environments are maturing but remain fragmented globally, with some regions providing clearer rules while others create uncertainty [5][13] AI and Automation - AI, particularly agentic and conversational AI, is anticipated to become invisible infrastructure, embedded in decision-making processes across industries [3][7] - The importance of trust, resilience, and security is rising as new risks emerge from AI and digitization, leading to increased investment in advanced security technologies [6][9] Financial Services Landscape - The financial services landscape in 2026 will be characterized by agentic AI, digital assets like stablecoins, and divergent regulatory environments [11][12] - Embedded finance is expected to expand beyond payments, allowing non-financial companies to enter financial services profitably [12][20] Market Dynamics - The fintech sector is entering a pivotal moment of convergence and divergence, with traditional institutions and technology firms increasingly overlapping in roles and capabilities [10][8] - The stablecoin market is projected to reach $1 trillion by the end of 2026, indicating its growing importance in bridging traditional and decentralized finance [43] Regulatory Challenges - Regulatory fragmentation is expected to increase cross-border friction, complicating compliance for global fintechs and financial institutions [39][40] - Compliance will become a competitive differentiator, with firms needing to modernize their systems to meet regulatory requirements [33][34] Predictions for 2026 - Predictions indicate that 2026 will be a year of consolidation, with fewer but stronger integrated platforms emerging as experimentation gives way to established models [7][9] - The embedded finance market is forecasted to reach $7.2 trillion by 2030, highlighting the significant growth potential in this area [20]

As filed with the Securities and Exchange Commission on January 5, 2026. Registration No. 333-______ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ––––––––––––––––––––––––––––––––––– FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ––––––––––––––––––––––––––––––––––– Picpay Holdings Netherlands B.V.* (Exact Name of Registrant as Specified in its Charter) ––––––––––––––––––––––––––––––––––– The Netherlands 7389 N/A (State or other jurisdiction of incorporation or org ...

Core Insights - Commercial Bank of Dubai (CBD) has become the first bank in the UAE to fully activate Open Finance under the Central Bank of the UAE's Open Finance Initiative, AlTareq, marking a significant milestone for the banking sector [2][4] Group 1: Implementation and Collaboration - The activation was achieved in collaboration with Central Bank-licensed third-party providers, including Pay10 and Lean Technologies, which are now operational with CBD under the Open Finance Framework [3] - CBD's retail current and savings account customers can now securely share financial data and initiate payments through regulated, consent-based mechanisms, indicating a shift from pilot programs to full-scale implementation [4] Group 2: Strategic Vision and Future Plans - CBD's CEO emphasized that the full-scale Open Finance activation positions the bank at the center of a fundamental shift in the UAE's financial architecture, aiming to create a more connected ecosystem for customers [5] - The activation is seen as a tangible step in realizing the UAE leadership's Open Finance vision, enabling secure customer access while maintaining compliance and trust [5] - Looking ahead, CBD plans to continue collaborating with its Open Finance partners to expand use cases and drive meaningful transaction activity in line with the objectives of the UAE's AlTareq Open Finance Initiative [6]