Innovation, trust, and collaboration marked the 2024 annual meeting, an opportunity for clients and representatives of the financial market to reflect on the advancements made and the challenges ahead.

In December, DCV held its annual meeting with operators and representatives of various local financial market institutions to share views on the economy and prospects for capital market development.

At the event, General Manager Rodrigo Roblero underscored the main milestones achieved in 2024 and talked about the challenges for the upcoming years. Among these, he highlighted the strengthening of the customer service model through technological and service improvements; the optimization of business continuity through simulations and more effective communication in critical scenarios; the progress made in the apification of services through new APIs; the renovation of the DCV Registros platform to transform processes and offer more useful information to investors; and the integration with Nuam's operational transformations to facilitate regional interconnection between the stock exchanges of Chile, Peru, and Colombia.

"Our purpose for the future is to continue building relationships of trust and collaboration with our clients, providing them with innovative solutions that drive their development. We want to be a strategic partner that, in addition to adapting to market demands, promotes initiatives that ensure stability, efficiency, and projection in an increasingly dynamic and competitive financial environment," added Rodrigo Roblero.

On behalf of DCV, he also thanked its clients for their loyalty throughout the year 2024, recognizing that the collaboration of each one of them has been essential to advancing the various projects and initiatives developed. A spirit of working together is undoubtedly a crucial pillar in meeting the challenges that lie ahead in 2025.

Finally, the General Manager emphasized the technological transformation and regional interconnection, reaffirming DCV's commitment to a more robust, competitive, and dynamic capital market.

SEE IMAGES OF THE EVENT

DCV News

Both institutions conducted this study to measure the level of financial literacy in Chile.

Depósito Central de Valores (DCV), together with the ESE Business School's Center for Financial Studies (CEF), launched a new version of the Financial Knowledge Index. The study seeks to gather key information that will encourage the public and private sectors to develop initiatives that favor financial education, thus promoting the well-being of individuals and their families.

The results revealed a generalized drop in the level of knowledge about financial issues in Chile. According to the report, which is conducted every two years, 55% of respondents report having a low level of financial literacy, an increase of 13 percentage points from 2022. Only 16% of respondents claim to have a high level of knowledge, but this is also lower, by 5 percentage points, compared to the previous study.

The study, commissioned to Cadem, was based on 1,017 interviews conducted between September and October 2024 and aims to provide an overview of the use and knowledge that Chileans have of the different institutions and products in the financial market, thus contributing to the conversation and public debate on financial inclusion and education in the country.

Among the main findings, there are significant gaps between the different population groups. The numbers indicate that people belonging to the lower income segments (D/E) are those with the greatest lack of knowledge (82%). On the other hand, men report a higher knowledge index (20%) and higher than women (11%), regardless of the socioeconomic sector.

In this regard, Rodrigo Roblero, DCV's General Manager, pointed out that, although this year's results show a generalized drop, they are key to promoting public policies that encourage greater financial education. "This study reaffirms the challenge we have as a society to improve financial education. Knowledge about institutions and products is essential for people to make informed decisions and build a solid foundation for their economic future."

Likewise, the report details that the general knowledge about all existing financial institutions in the country dropped from 82% in 2022 to 73% this year.

Ownership of products and means of payment
Debit cards and sight accounts or "cuenta Rut" (a sight account issued only by BancoEstado for citizens with an ID number) continue to be the financial products most used by Chileans, with rates of 81% and 89%, respectively. Thirdly, online payment applications have emerged as an option in recent years, with a 64% adoption rate, surpassing other traditional means, such as current accounts or credit cards, for the first time.

Although 48% say they are holders of a bank credit card, 39% of respondents say they know little or nothing about the characteristics, charges, or commissions they pay for such cards. In turn, 14% stated that they have a mortgage loan, which shows a low penetration of this product in Chilean households in recent times, but, in addition, 54% of those who have a mortgage say that they know little or nothing about the conditions of their loan.

Socioeconomic and technological gaps
The possession of financial means reflects differences between segments of the population. For example, the use of online payment applications reaches 83% in the highest income segments (C1) but drops to 41% in the D/E segment. Likewise, 18-34-year-olds lead the way in financial technology adoption, with 74% using payment applications, compared to 43% for those 55 and older.

Cecilia Cifuentes, executive director of the Centro de Estudios Financieros, ESE Business School, points out that "the digitalization of means of payment represents an opportunity to improve access to financial products, but it must be accompanied by efforts to close the knowledge gaps that especially affect the most vulnerable sectors."

Since 2018, the holding of financial products and the use of means of payment have evolved in line with global trends, such as the consolidation of digital media. However, the report shows that more complex products, such as mutual fund investments (24%) or life insurance with savings (35%), remain largely unknown to the majority of the population.

YOU CAN DOWNLOAD THE FULL REPORT HERE

DCV News

With its new API services offering, DCV seeks to transform its interaction with its clients, providing secure and efficient access to information and marking a decisive step towards technological modernization in the capital markets.

EDepósito Central de Valores (DCV) is launching a new service based on APIs (Application Programming Interface), adapting to financial market trends and improving interoperability with its clients. This allows the exchange of information through secure channels, offering greater flexibility, timeliness, and efficiency compared to traditional methods such as files and reports.

Guillermo Toro, the Company's Technology and Cybersecurity Manager, says: "The main objective of this project is to modernize and digitize our communication with clients, facilitating access to real-time information through a secure channel." This new service provides an agile means for DCV's clients to obtain information to feed their internal systems, thus optimizing the use of time and resources.

With the first APIs available, which include balance and transaction queries, DCV begins the transition towards modernizing its integration channels.

In the long term, DCV has a more ambitious vision: to replace all current interactions with its customers through files with APIs. Although this process will be gradual, progress has already been made with pilot programs with some depositors, and the offer is expected to expand with new APIs under development, such as those for querying pledges and registering transactions.

In addition to improving efficiency, the implemented APIs are designed with a strong focus on cybersecurity. This new scheme reinforces the protection of our participants' information by allowing a more controlled and secure exchange through standard authentication schemes. Security is a priority in this initiative, especially in a context where cyber threats are increasingly prevalent in the financial sector.

This approach not only automates the delivery of information but also frees the end user from routine tasks, allowing for more strategic and personalized customer service. "With our focus on the client, we want to support our depositors in automating their processes, with a strong emphasis on security and paving the way for future initiatives that respond to their needs," Toro added.

With these innovations, DCV reinforces its commitment to modernization and security in an increasingly digital and dynamic capital market.

News Center

With a comprehensive approach, DCV renews its certifications in business continuity and information security, reaffirming its commitment to the protection of its clients' assets and resilience to any challenge.

In an increasingly challenging and dynamic environment, Depósito Central de Valores (DCV) has successfully renewed its international certifications in Business Continuity and Information Security Management Systems, a clear sign of its commitment to operational excellence and the protection of information assets.

After rigorous follow-up audits, the company maintains its ISO 27001 certification, which ensures compliance with strict information security controls, and also ratifies its ISO 22301 certification, which validates the company's ability to respond effectively to disruptive incidents that may affect business continuity.

"This process not only validates that we are complying with the highest international standards but also reinforces our position as an internationally competitive entity. It is a recognition of the effort of the entire team," says  André Medel, DCV's Deputy Risk and Business Continuity Manager.

Being certified does not guarantee the absence of incidents, but it does ensure that the company is prepared to contain, remediate, and recover effectively within the established target times.  

The certification process, carried out by The British Standards Institution (BSI), one of the most recognized global certification companies, has been quite a challenge for the DCV team. The success of the certification depends on technical compliance with international standards and, in addition, on the total commitment of the organization, from top management to each of the company's employees.

"We maintain a comprehensive management system that involves all levels. Auditors interview senior management and tactical and operational personnel to verify that our processes are aligned with the requirements of international standards. It is a comprehensive process, but it is also an opportunity to demonstrate that we are committed to continuous improvement and information security," adds André Medel.

New challenges and the commitment to continue improving

Next year, DCV will face another challenge: adapting to the new version of the ISO 27001 standard. This process involves careful planning and implementation of new strategies to ensure compliance with the latest requirements.

In this regard, the company has a multidisciplinary team working on a gap analysis to ensure that they are aligned with the new version of the standard. "It's a complex job, but we know that by meeting the standards, we will continue to stay ahead of the curve," says DCV's Deputy Risk and Continuity Manager.

News Center

The senior partner of Virtus Partner was the special guest in the second panel of this year, which addressed the importance of making things simpler to compete in a disruptive environment.

During the second meeting of the 2024 "Capital Markets Conversations,", Marcelo Larraguibel, senior partner of Virtus Partners, talked about "Making things simpler to compete in a disruptive environment," where he highlighted how the simplification of processes and structures allows organizations to respond rapidly to changes and leverage opportunities in a market characterized by constant innovation and growing competition.

The meeting, held at the offices of Depósito Central de Valores, welcomed DCV's clients and relevant stakeholders of the financial industry. The event, hosted by DCV's General Manager Rodrigo Roblero, was an interesting instance for analysis that promotes relevant discussions for the industry and its link with financial market issues that are currently important for society.

Based on recent data and his vast experience, Larraguibel noted that 65% of CEOs have seen their businesses highly disrupted in the last year, and 87% anticipate that their industry will undergo moderate to considerable changes in the next three years.

"The increasingly complex external context is putting pressure on companies to adapt. Organizations that do not simplify run the risk of losing competitiveness" said Larraguibel. To address this reality, he stressed the importance of eliminating redundant activities, simplifying hierarchical structures, and automating repetitive processes.

He also stressed the fact that adopting a culture of simplicity not only improves agility and productivity but also enables organizations to respond more quickly to market changes. "Simplifying is necessary, but not enough; it is also key to continuously innovate to adapt and thrive in a disruptive environment," he added.

Rodrigo Roblero pointed out that currently, for executives, "the key challenge lies in how to simplify the decision-making processes within companies, ensuring that both boards and senior executives have clearly defined roles that are aligned with that vision." 

There was consensus among attendees that these types of conversations are much needed to foster the exchange of ideas, generate new perspectives, and find innovative solutions to the challenges faced by the industry as it adapts to a digitally transformed environment.

Centro de Noticias

The digitization and automation project introduces the generation of reports and electronic transactions, thus replacing the traditional physical forms and manual authorizations.

Depósito Central de Valores (DCV) has taken a step forward in its effort to modernize and optimize its operations by implementing a digitization and automation model for equity deposit and withdrawal processes. This advancement is part of an organizational roadmap to improve operational efficiency, response times, and user experience.

The benefits of the new digital model are, first, time optimization because transactions will be processed faster and more efficiently through online interfaces, which also include digital registration and data validations.

Second, the incorporation of an electronic signature for authorizations will add another security layer, eliminating the need for manual validations and physical signatures. Finally, transactions will be approved in a more expedited manner, considering the authorization of issuers through detailed electronic reports, reducing manual work and the physical exchange of documents to increase the security of transactions.

On the other hand, the adoption of modern web applications and advanced security protocols compatible with the most widely used browsers significantly improves user experience. Processes will be faster, and they will create traces for all those involved, facilitating audits and following-up transactions.

Also, access to applications will be unified through the same current credentials (user, password, and token), which simplifies and ensures access.

With this new digitization and automation model, Depósito Central de Valores reaffirms its commitment to innovation and operational efficiency, adapting to the current technology challenges and improving the security and level of satisfaction of its users.

News Center