STRATEGIC PARTNERS
September 2, 2002
SANTIAGO, Chile -- Chilean bank Banco Ripley is expected to make a decision before year's end on which of Chile's two ATM networks the bank should join, according to a report in BNamericas.
Banco Ripley, which opened for business last month, is owned by the local Ripley group, controller of one of Chile's largest department store chains.
Chile has two ATM networks, Redbanc and Globalnet, of which Redbanc is the largest with 2,660 ATMs, compared to Globalnet's 775 ATMs.
Chilean state bank BancoEstado, the primary Globalnet member, is in talks with the Redbanc member banks (the largest private banks) for a potential link-up between the two networks. Chile's only remaining finance company Financiera Conosur said in late August that it also plans to negotiate with Redbanc over a link-up. (See related story More financial institutions seeking link to Chile's Redbanc network)
Banco Ripley CEO Ricardo Doñas said that Ripley has made self-service technology a priority at its branches so its branch executives can focus on more commercial and advisory tasks. According to BNamericas, Ripley wants to equip all of its branches with a traditional ATM, an Internet kiosk and a new multifunctional self-service machine that accepts cash deposits and bill payments in real time.
Ripley has two branches in Santiago but plans to open a total of 24 branches throughout Chile over a five-year period, Doñas told BNamericas.
