Banchile Inversiones has positioned digital transformation front and centre as it continues to develop new products and enhance its clients’ experience
During 2022, rising inflation in several countries around the world shaped economic behaviour and the performance of financial assets. Low growth and inflation were the consequence of three key factors: post-pandemic, persistent supply disruptions in global supply chains, rising commodity prices, and the liquidity held by consumers as a result of fiscal policies implemented in previous years. All of these elements caused inflation expectations around the world to move well above central banks’ objectives. In this scenario, rates were increased, pushing monetary policies into contractionary territory.
Against this backdrop, leading Latin American investment management company Banchile Inversiones has continued to work on helping its clients to navigate the financial environment, to improve their user experience through digital transformation and to make investments more widely available to the public.
Banchile Inversiones continued to deepen its digital transformation plan with a clear objective: to improve the user experience through a new version of the Mi Inversión App (My Investment App).
It allows clients to invest in different products – foreign exchange dollars, mutual funds, investment funds, Chilean equities shares, cross listed shares and ETFs – all from the palm of their hand and with the highest security standards. Users have the possibility of accessing the world of investments quickly, easily and securely. This new app is part of Banco de Chile Corporation’s extensive digital ecosystem.
Simple and intuitive
Additionally, improving its value proposition for users for the mass segment, the Mis Metas (My Goals) functionality was developed within the new application. Also improving its value proposition for retail clients, the last app release included “Mis Metas” (My Goals) – a new tool that allows clients to create their own financial goals through a simulator that uses a predetermined algorithm to consider factors, such as investor profile, investment objective and horizon, and to recommend a mutual fund. The simulator allows clients to enter an initial amount, a periodic contribution and the investment term for the fulfilment of the proposed goal. The user experience is simple and intuitive.
In parallel to this transformation process, Banchile Inversiones is focused on developing products which are aligned with their clients’ needs. During 2022, it launched 18 new investment funds. Among these launches was its first, and the first international equity fund that considers ESG factors. There was also the marketing of a second real estate income fund in the United States. The first Private Debt Investment Fund of Banchile Administrador General de Fondos (Asset Management General Fund Administrator) was also created during this period, offering an attractive risk-adjusted return profile.
As a way of taking advantage of the economic situation and offering clients access to attractive market rates, seven new structured funds were developed in different currencies – Unidades de Fomento (inflation-protected notes, UF), Chilean pesos and dollars – complementing a wide range of products adapted to different needs. Banchile Inversiones once again ended the year as the industry leader in terms of assets under management, with a market share of 20.88%.
On the equities side, even though equity market performance during 2022 was exposed to the volatility generated by the macroeconomic factors noted above, Banchile’s team successfully carried out transactions of more than $120m. It also accomplished to raise UF23.5m in eight bond placements, in which large local companies relied on its advice and expertise.
Banchile Inversiones’ research team focused its efforts on strengthening its relationship with the institutional investor segment, identifying their needs and developing comprehensive reports and recommendations, with the aim of delivering a high quality experience to its clients. In this context, it published more than 600 reports with the aim of making investments more widely available, in a clear and accessible manner, providing objective recommendations for their clients to make the best investment decisions.
Excellence and dedication
All these initiatives implemented by Banchile Inversiones during 2022 were aimed at consolidating its long-term strategy, with the spirit of innovation and growth aimed at all client segments. These effort were recently acknowledged by The European, which this year recognised Banchile Inversiones as “Investment Management Company of the Year”, “Most Innovative Digital Investment Firm of the Year”, and “Mutual Funds Manager of the Year – Chile”. These awards are the result of the company’s commitment to excellence and dedication to delivering quality service and an outstanding user experience to its clients.
This year begins with new challenges and opportunities, and Banchile Inversiones will continue to deepen its strategy, and seek to maintain its leadership in the Chilean market.
The company will continue to maintain the highest possible standards, aligning all its efforts with the aim of helping its clients achieve their goals, and realise their ambitions through diversified investment alternatives.