“Can a Credicorp-backed prepaid issuer become Chile's default neobank by stitching together third-party rails (Dock for cards, Chubb for insurance) under one CMF-regulated app?”
Tenpo was launched in 2020 as Credicorp's (Peru's largest financial holding) bet on a digital-first, CMF-regulated neobank in Chile via its Krealo CVC arm. It started as a prepaid-card wallet (TENPO PAYMENTS S.A. is a registered prepaid issuer with the CMF, not a bank), then expanded into credit cards in 2023 using Dock's BaaS issuer-processor, embedded insurance with Chubb, a remunerated account, and investments. The strategy is to build the broadest neobanking suite in Chile under a non-bank prepaid license, leveraging Credicorp's regional balance-sheet for capital and partnerships for everything else.