Banco de Chile, one of the largest financial institutions in Chile, has established a collaborative alliance with Integral, a leading currency technology provider to the financial markets, to bolster its FX operations. Through the partnership, Banco de Chile has adopted Integral’s Price Engine and Liquidity Aggregation products to consolidate FX pricing logic and streamline execution workflows.

Integral has also integrated with Datatec - Chile’s primary provider of interbank FX infrastructure - enabling the bank to capture live spot pricing and create executable rates for multiple channels and client segments. The prices generated are used for trading offshore NDFs, USD/CLP spot and forwards, and swaps, across multi-dealer platforms, internal sales teams, and client-facing white-label platforms.

Integral’s connectivity with Datatec is a key benefit to Banco de Chile, with Integral’s technology delivering full end-to-end automation, from liquidity aggregation to trade execution. This brings improved speed, accuracy and transparency to FX operations, combatting the resource burden and operational costs associated with manual FX processes that remain commonplace in Latin American financial markets. As a result, the bank is well positioned to scale its FX capabilities across all segments and to consolidate its prominent role as a provider of Chilean peso services.

Sergio Karlezi, Manager of the Treasury Division at Banco de Chile, said: “As we advance digital transformation as a strategic imperative, this collaboration with Integral is an essential milestone in entrenching automated, streamlined FX pricing into our trading workflows. The highly customizable nature of Integral’s solutions was key, allowing us to seamlessly integrate with our internal architecture and cater to regional market dynamics.”

Harpal Sandhu, CEO of Integral, commented: “Leading the charge to FX automation in the region, Banco de Chile has further differentiated itself by allowing clients to benefit from improved speed, transparency and accuracy in FX price discovery. As interest in trading multi-currency pairs featuring the Chilean peso expands, Banco de Chile will be able to capitalize on the opportunity at hand and better service its growing client base, both in Chile and abroad.”

With this initiative, Banco de Chile reaffirms its leadership in the national financial market and its commitment to technological innovation applied to banking services. The incorporation of Integral’s solutions represents a significant step in the bank’s digital strategy, aimed at providing greater efficiency and added value to its clients, both in Chile and international markets.