Honorato Delaveau counsels Finerio and Fintoc on agreements with Banco Estado
Honorato Delaveau has assisted Finerio with a partnership with Banco Estatal and Fintoc in a new agreement with the bank
Honorato Delaveau has counselled Finerio in the alliance it formed with the state-owned bank and supported Fintoc in the process of creating its new agreement with the entity.
This operation has opened the doors to dialogue and open banking after moments of conflict between Banco Estado and Fintech companies operating in Chile, where frameworks define ways to integrate and incorporate the participation of technology companies.
“In the absence of regulation, this and the other agreements closed by BancoEstado pave the way for self-regulation, which will be key in such a dynamic industry,” said lead partner Matías Langevin.
Finerio co-founder and co-CEO Nick Grassi stated that “this really shows that the country wants to facilitate competition for the benefit of end consumers”.
Industry players are still waiting for progress on the Fintech Bill, which is still pending in the Finance Committee of the Chamber of Deputies. Nevertheless, the agreements demonstrate that the parties can work together to enable innovation while protecting the security of all users of the system.
The formation of the partnerships has achieved an integration of banking systems with payments and personal platforms, bringing Chile ever closer to regulated Open Banking.
Honorato Delaveau’s team was led by partner Matías Langevin (pictured).
