Chile
News

Sonda project to reduce bank transfer risks

Bnamericas Published: Wednesday, February 09, 2005
Chilean systems integrator Sonda is integrating and implementing an electronic cash transfer system that should safely replace physical transfers, the company said in a statement. Sonda is developing this project along with Combanc, an association recently created by Chilean banks to operate as a chamber for high value payments. Combanc's High Value Payment System is based on a payment system provided by US-based IT solutions developer Montran, Sonda's regional partner. In the project, Sonda will provide hardware and software platforms, while Montran will provide support and maintenance services. In real time Combanc's system administrates risks related to transfers of sums higher than 50mn pesos (US$86,500), from banks' operating accounts and client accounts, according to Chile's central bank. Since last July Sonda has been working to adjust the software to the local market, a process that should end next March. After that, Combanc will be ready to offer this service and implement new solutions and products.

To continue reading, subscribe to BNamericas to get all the information in this article and access to related news items and reports.

Subscribe to BNamericas and gain access to thousands of project profiles, key contacts and news.

Other projects

Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.

Other companies in: Banking (Chile)

Get critical information about thousands of Banking companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Bolsa de Comercio de Santiago S.A.  (BCS)
  • Self-listed Chilean stock exchange Bolsa de Comercio de Santiago provides members with the necessary services, systems and infrastructure to trade securities through public auct...
  • Company: Consorcio Financiero S.A.
  • Consorcio Financiero S.A. is a Chilean conglomerate that includes banking unit Banco Consorcio and its subsidiaries Consorcio Corredores de Bolsa and Consorcio Tarjetas de Crédi...
  • Company: Grupo Security S.A.  (Grupo Security)
  • Chilean financial holding company Grupo Security operates in the areas of financial services, investments, insurance, travel, and housing projects. The group is structured aroun...