Dock, a B2B technology company specializing in payments and banking, has announced that Tenpo, Chile’s largest digital bank, is now one of its clients.
Dock’s expertise and infrastructure power the issuing and processing technology Tenpo uses for its newly launched credit cards. This new partnership marks a significant milestone in Dock’s expansion in Latin America.
Chile becomes Dock’s ninth market, joining a portfolio that already includes more than 70 million active accounts and processes more than US$240 billion annually. Apart from Brazil, Dock operates in Mexico, Argentina, Colombia, Ecuador, Peru, Panama and the Cayman Islands. The company’s Latin American expansion aligns with its strategic plan to access a potential US$16 billion market for Banking-as-a-Service and a US$2.5 billion market in card processing.
“With experience acquired in Brazil, a world leader in payments, we are now able to replicate our financial services advancements across Latin America. Considering the particularities of each country, everything we do in the Brazilian market is 80 to 90% replicable. Our deep knowledge of this space allows us to expedite the availability of banking and payment technologies in other regions,” said Antonio Soares, CEO of Dock.
Tenpo’s credit card now enables the Chilean firm to compete head-on with traditional banking entities.
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