Chile's digital bank, Tenpo , has partnered with Dock , a B2B tech firm, for credit card offerings, marking Dock's expansion in Latin America. Dock, a B2B technology company specialising in payments and banking solutions, has announced that Tenpo, one of Chile's largest digital bank with over 2.2 million customers, is now using Dock's expertise and infrastructure for its newly launched credit cards.

This move signifies a significant step in Dock's expansion in Latin America. Chile marks the ninth market for Dock, which currently manages more than 70 million active accounts and processes over USD 240 billion annually. In addition to Brazil, Dock operates in Mexico, Argentina, Colombia, Ecuador, Peru, Panama, and the Cayman Islands.

This expansion aligns with Dock's aim to tap into the potential markets of USD 16 billion for Banking as a Service and USD 2.5 billion for card processing. Discussing Dock's expansion strategy and Tenpo's ambitions Antonio Soares, the CEO of Dock, expressed that the company’s familiarity with the Brazilian market, which is a significant player in the payments sector, positions them to extend their advancements in financial services across Latin America. They have the ability to replicate a substantial portion of their operations in Brazil, around 80 to 90%, while also making necessary adjustments to suit the specific conditions of each country.

This extensive understanding of the industry allows them to efficiently introduce banking and payment technologies in various regions outside Brazil. Tenpo's introduction of credit cards positions the Chilean company to directly compete with traditional players in the banking sector. Fernando Araya, Co-Founder and CEO of Tenpo, showed enthusiasm about this achievement.

He indicated that this milestone is the outcome of dedicated efforts by the entire team, which confirms their presence in the Chilean financial market. With the introduction of the new credit card, their goal is to challenge traditional institutions and provide a complete range of financial products and services in a personalised, secure, and fully digital manner. About the companies Dock is a payments and digital banking enabler in Latin America.

With a history spanning over 20 years, Dock drives digital financial services' growth in the region. Dock's mission has been to democratise financial access and include the unbanked and underbanked. Dock has focused on increasing access to financial services and promoting inclusion.

In 2022, its market value rose to USD 1.5 billion following a funding round of USD 133.6 million. The company has launched Dock One, an end-to-end platform in Latin America integrating card issuance, digital banking, credit, risk, and acquiring solutions. It simplifies technological, operational, and regulatory complexities, allowing clients to focus on their business growth.

The company manages over 70 million active accounts and processes over seven billion annual transactions. Tenpo aims to democratise finance through technology and is regulated by the Commission for the Financial Market (CMF), overseeing major traditional banks in Chile. The app provides easy, quick, and secure mobile money management, including international purchases, mobile recharges, and bill payments for essential services.

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