“Can a mid-sized Chilean private bank successfully merge with Banco BICE and modernize its digital banking stack — including AI-driven payments and open APIs — to compete with larger Chilean incumbents?”
Founded in 1981 as part of Grupo Security, Banco Security has operated as a mid-sized Chilean bank serving retail clients, SMEs, and corporates with traditional banking, investment, and trade finance products. The bank has been undergoing a strategic integration with Banco BICE, another Grupo Security institution, to create a combined and stronger banking proposition in Chile. More recently, the bank has positioned itself as an early mover on AI-driven payments infrastructure, participating in Mastercard's agentic payments pilot for Latin America.
Banco Security's cards run on Mastercard.
The Embedded Finance Index 2026 maps 2 layers in Banco Security's stack: Card network (Mastercard); Lending (Crédito de Consumo, Crédito Hipotecario, Créditos Comerciales, Línea de Sobregiro and 8 others).
Banco Security is founded in 1981 and headquartered in Santiago, Chile.
Get a read on where your own stack stands against Banco Security and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.