Banco BICE

What Banco BICE does

Banco BICE is a Chilean commercial bank founded in 1979 and headquartered in Santiago (Av. Apoquindo 3846), operating as a wholly-owned subsidiary of the financial conglomerate BICECORP S.A. Following the legal merger between BICECORP and Grupo Security completed on November 1, 2025, Banco BICE became the successor and legal continuator of Banco Security, with full systems and commercial integration targeted by 2027; the FNE cleared the combination in October 2024 without conditions. The bank serves three primary segments — Personas (retail consumers), Empresas (PYMEs through large corporates), and Banca Privada (high-net-worth individuals) — via a multi-channel architecture that combines a nationwide branch network with the App BICE mobile application, BICE Pass two-factor authentication, online banking, WhatsApp and contact-center service, account executives for enterprise clients, the BICE Connect API for embedded business banking, and a Miami office (BICE Wealth Management LLC) for international wealth management.

The product portfolio spans deposit accounts (Cuenta Corriente, GO BICE digital account, Banca Joven), credit (Hipotecario with fixed/variable/mixed rates, three modalidades of Crédito de Consumo, Automotriz, and study loans), payment cards (Visa Platinum, Infinite, Signature, Gold, Jóvenes, GO BICE, and metal Tarjeta Limitless for private banking), and a full corporate suite including factoring, leasing, COMEX trade finance, derivatives, and guarantee bonds. Revenue is generated through net interest income across mortgages/consumer/commercial/cards, transaction and maintenance fees, managed services and brokerage via subsidiary BICE Inversiones (mutual funds, APV, fixed-term deposits, online brokerage), and insurance brokerage through BICE Vida; the bank also operates the BICE Store marketplace integrated with the Dólares BICE rewards program. AI capability is deployed narrowly for fraud prevention (phishing, voice cloning, transaction anomaly detection), not as a commercial differentiator. Paul Sherry serves as CFO; the bank employs 1,001–5,000 people across Chile and a small US presence.

Name

Banco BICE

Legal name

Banco BICE

Website

https://banco.bice.cl

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Banco BICE is a privately held Chilean commercial bank serving retail, corporate, and private-banking clients through branches, digital channels, and a BaaS API, with subsidiaries in investment management, insurance, and US wealth management.

Ownership category

akta.pro rank

Product category

Retail and Commercial Banking

NAICS

Commercial Banking (52211)

SIC

Commercial Banks, Nec (6029)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

Credit Cards & Revolving Credit (FSABAAAC), Direct Lending — Asset-Based Lending (ABL) (FSAHAJAE)

Keywords

• Retail banking services
• Commercial banking
• Wealth management
• Consumer credit products
• Corporate financing

Headquarters

HQ city

Santiago

HQ country

Chile

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income: Traditional banking revenue from interest on mortgages, consumer loans, commercial loans, and credit cards
2. Commission Income: Fees from account maintenance, transactions, credit card operations, and other banking services
3. Investment Products: Revenue from mutual funds, investment funds, and wealth management services through BICE Inversiones
4. Insurance Brokerage: Commission revenue from insurance products through BICE Vida and insurance partners

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels10 records

Core offering

Banco BICE is a Chilean commercial and retail bank that provides consumer banking (accounts, credit cards, consumer and mortgage loans), corporate banking (factoring, leasing, foreign trade financing, derivatives), private banking/wealth management, and investment products (mutual funds, brokerage, APV, fixed-term deposits) through physical branches, digital channels (App BICE, online banking, BICE Pass, BICE Connect API), and wholly-owned subsidiaries BICE Inversiones and BICE Vida. Following its November 2025 merger with Banco Security, it now operates an expanded branch network across Chile with international reach via its Miami office.

Product overview

Banco BICE is a Chilean bank operating as a multi-channel financial platform offering comprehensive banking services through three main segments: Personas (retail), Empresas (business/Corporate), and Banca Privada (wealth management). The product portfolio spans deposit accounts (GO BICE digital account, Cuenta Corriente, Banca Joven), credit products (Crédito Hipotecario with fixed/variable/mixed rates, Crédito de Consumo in three modalities, Crédito Automotriz, Crédito para Estudiar), payment cards (Visa Platinum, Visa Infinite, Visa Signature, Visa Gold, Visa Jóvenes, GO BICE Credit, Limitless metal card for private banking, plus debit cards including Family Card and Premium tiers), investment services (Fondos Mutuos, Fondos de Inversión, APV, Depósitos a Plazo, Wealth Management, BICE US Miami office), and business solutions (Factoring, Leasing, COMEX financing, BICE Connect API for automated payments, App Empresas). The bank operates through BICE Inversiones for investment products and BICE VIDA for insurance, with digital channels including App BICE mobile banking, BICE Pass authentication, and BICE Store marketplace. Recent significant change: merger with Banco Security completed November 2025, making Banco BICE the successor entity.

Differentiator

Problem solved

Functional benefit

Brands

• BICE Vida: Life insurance and investment products subsidiary
• GO BICE
• BICE Connect
• BICE Pass
• Dólares BICE

Products and services

• GO BICE Digital Account Commission-free digital checking account with unlimited free transfers and no balance limits, designed for mobile-first retail banking customers.
• Cuenta Corriente Traditional checking account with comprehensive technological support, allowing deposits, transfers, and scheduled payments for individual customers.
• Crédito Hipotecario Home financing product available with fixed, variable, or mixed interest rates, supporting purchase of new or used properties, land, offices, refinancing, and self-construction.
• Crédito de Consumo Personal loan product available in three modalities: Cuota Fija (fixed monthly payment), Cuota Flexible (variable payment between min/max), and Cuota Reducida (reduced initial payments with final balloon payment).
• Crédito Automotriz Vehicle financing with adjustable installments, up to 60-month terms, and 3-month grace period for purchasing new vehicles.
• Crédito para Estudiar Education financing up to 3,000 UF for study abroad and career expansion, with up to 36 months grace period before payments begin.
• Tarjeta de Crédito Visa Platinum Credit card with purchase protection, extended warranty, Visa Concierge, Visa Médico Online, and Visa Airport Companion benefits.
• Tarjeta de Crédito Visa Infinite Premium credit card with no international commission on cash advances, access to over 1,000 Visa Luxury Hotels worldwide, and comprehensive travel and purchase insurance.
• Tarjeta de Crédito Visa Signature Travel-focused credit card with Priority Pass access to over 1,200 airports worldwide and premium merchant benefits.
• Tarjeta de Crédito Visa Gold Credit card with purchase protection insurance against damage or theft and access to BICE Benefits program.
• Tarjeta de Crédito Visa Jóvenes Entry-level credit card for young customers with up to 6 months complimentary benefits and 24/7 travel assistance.
• Tarjeta de Crédito GO BICE Digital-focused credit card with no maintenance fees, online purchase capability, and installments without interest or at preferential rates.
• Tarjeta Limitless Metal credit card for private banking clients offering exclusive lifestyle experiences with premium benefits and personalized services.
• Family Card (Débito) Debit card for family members (ages 12+ for girls, 14+ for boys) with parental control over purchases and expenses through scheduled or manual deposits.
• Débito Visa Infinite Premium debit card with international purchases without commissions, access to over 1,000 hotels via Visa Luxury Hotels, and VIP lounge access.
• Débito Visa Signature Debit card with international purchases without commission, Priority Pass access at over 1,200 airports, and vacation protection insurance.
• Débito Visa Gold Debit card with global auto rental insurance and daily spending benefits equivalent to credit card features.
• Débito Visa Platinum Debit card with international price protection on purchases and extended warranty on selected items.
• Banca Joven Banking service designed for young adults with special benefits and discounts for travel, entertainment, and unique experiences.
• Wealth Management (Banca Privada) High-level wealth management service with portfolio optimization, continuous expert advisory, estate planning, and discretionary/non-discretionary mandates for high-net-worth individuals.
• BICE US (Miami Office) Miami-based office providing real estate investment services and BICE Wealth Management services for international investment opportunities for high-net-worth clients.
• Fondos Mutuos Mutual funds offering investment alternatives in local and international markets with various risk profiles.
• Fondos de Inversión Investment funds providing customized investment solutions based on investor profile and investment objectives.
• APV (Ahorro Previsional Voluntario) Voluntary pension savings product for future retirement with tax benefits, allowing systematic savings toward retirement goals.
• Depósitos a Plazo Fixed-term deposits with guaranteed returns, allowing investors to know their profitability from the start of the investment.
• Fondo Mutuo BICE Digital Digital mutual fund series available for online investment in Conservative, Balanced, and Aggressive profiles, including Chile Active equity and Mundo Sustentable global equity options.
• Mercados en Línea Online trading platform providing real-time market information and investment execution capabilities.
• Cartera BICE Acciones Destacadas Recommended stock portfolio featuring local and international stock investment opportunities with BICE expert support.
• Factoring Invoice and accounts receivable financing service allowing businesses to convert outstanding invoices into immediate cash.
• Leasing Medium and long-term financing for capital goods acquisition, enabling businesses to finance equipment and machinery.
• Crédito COMEX (Foreign Trade Financing) Foreign trade financing providing credit lines for subsidiaries abroad to obtain local financing flexibility.
• Boletas de Garantía Guarantee bonds for businesses to secure bids, contracts, and regulatory requirements.
• Derivados Derivative financial instruments for hedging and risk management in business operations.
• BICE Connect Banking-as-a-Service API platform enabling businesses to integrate financial operations through APIs for automated transfers and payment processing.
• App Empresas Mobile banking application for business customers enabling transfers, signatures, and business operations management from mobile devices.
• Tarjetas de Crédito Visa Business (Platinum, Signature, Infinite) Business credit cards (Visa Platinum, Signature, and Infinite) for expense management, business travel, and top-tier corporate benefits.
• Business Check Card Business debit card providing access to services for operating and managing business finances with required security.
• Comercio Exterior Importaciones Import financing and documentation services supporting international trade operations.
• Comercio Exterior Exportaciones Export financing and documentation services for international trade facilitation.
• Pagos de Nómina Employee payroll payment service enabling centralized salary disbursement management for businesses.
• BICE Store Online marketplace allowing purchases up to 12 interest-free installments with BICE Dollars redemption capability.
• Dólares BICE (Rewards Program) Credit card rewards program accumulating 1% of purchases in US dollars (1 BICE Dollar equals 1 USD) redeemable for travel, hotels, car rentals, and more.
• Seguros de Viaje Travel insurance providing coverage for trip cancellations, medical emergencies, and travel-related contingencies.
• Seguros de Vida y Salud Life and health insurance products protecting customers' present, future, and families' wellbeing.
• Seguros de Auto Comprehensive auto insurance with superior coverage, 24/7 assistance, and replacement vehicle services.
• Seguro 360° Comprehensive insurance product providing 360-degree coverage across multiple protection areas.
• Seguro Protección Patrimonial BICE 360° Property protection insurance covering assets and third-party damage liability for comprehensive wealth protection.
• BICE Inversiones (Investment Platform) Investment platform offering savings, investment products, and corporate finance advisory with high security and transparency standards.
• BICE VIDA (Insurance Subsidiary) Insurance subsidiary of Banco BICE providing life insurance and related financial protection products.
• App BICE (Mobile Banking) Mobile banking application for account movements, transfers, benefits browsing, branch locations, and account executive contact.
• BICE Pass (Authentication App) Mobile authentication app for authorizing transfers and online payments with complete security using RUT and internet credentials.
• Garantías Estatales (State-Backed Financing) State-backed financing solutions enabling project development with government guarantee support.
• Crédito para Viajes Consumer credit product designed specifically to finance travel expenses.

Quantifiable outcome

• Consumer credit can offer up to 40% lower initial payments with Cuota Reducida product
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability5 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Don Juan FarmminorOthers · 1 December 2024Don Juan Farm, a 350-hectare family dairy operation in Argentina's Brandsen district, obtained financing from Banco BICE in December 2024 to install four robotic milking units. The loan was structured with support from Vacalin as the milking equipment supplier. Project completion targeted by end of 2026.
• Banco SecuritycoreStrategic or Co-development PartnerLegal merger completed on November 1, 2025. Banco BICE became successor and legal continuator of Banco Security. Integration of commercial operations and systems being conducted gradually with full integration expected by 2027.
• VacalinminorOthersMilking equipment supplier supporting Don Juan Farm financing by Banco BICE in Argentina. Equipment supplier for robotic milking unit installation.
• BICE InversionescoreOthersSubsidiary of Banco BICE providing investment products and services including mutual funds, investment funds, and brokerage services.
• BICE VidacoreOthersSubsidiary of Banco BICE providing insurance products and services.
• BICE Wealth Management LLCcoreOthersWholly-owned subsidiary established under Florida law in the United States, providing investment and wealth management advisory services under US regulations.
• VisacoreTechnology or IntegrationCard network partnership for issuing Visa-branded credit and debit cards including Platinum, Infinite, Signature, Gold, and Business variants. Enables international payment capabilities and access to Visa benefits.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• BancoEstado: Chilean state-owned commercial bank with national reach across retail and SME segments. Comparable to Banco BICE as a deposit-taking, lending institution serving similar customer segments across Chile.
• Scotiabank Chile: Canadian-owned Chilean bank offering retail, commercial, and wealth management services. Directly competes with Banco BICE in the same Chilean market across comparable product lines.
• Itaú Chile: Brazilian-owned Chilean bank providing retail, corporate, and private banking services. Directly comparable to Banco BICE as a multi-segment Chilean commercial bank with strong digital capabilities.
• Banco Santander Chile: Major Chilean commercial bank operating across retail, SME, corporate, and private banking. Directly competes with Banco BICE in the same product categories, with significantly greater scale and a global brand.
• BCI (Banco de Crédito e Inversiones): Chilean universal bank offering retail, commercial, and investment banking. Directly comparable to Banco BICE with overlapping personas/empresas segmentation and similar digital investment in BCI's mobile ecosystem.
• Banco Security: Former direct peer and now merged into Banco BICE as of Nov 2025. Was a Chilean universal bank offering retail, corporate, asset management, and insurance — direct head-to-head competitor before the merger.
• Banco de Chile: Chile's largest commercial bank by assets, offering retail, corporate, and wealth management services. Directly comparable to Banco BICE as a full-service Chilean bank with similar product breadth and target segments.

Regional players

• Banco Falabella: Chilean retail-affiliated bank focusing on consumer credit and credit cards. Comparable as a Chilean deposit/credit competitor, though narrower product scope than Banco BICE.

Broad incumbents

• HSBC Private Bank: Global private bank serving HNW clients with cross-border wealth management. Comparable to Banco BICE's Banca Privada and Miami wealth management offerings from a scale and international reach perspective.
• JP Morgan Wealth Management: Global wealth manager serving ultra-HNW families with US and international investment capabilities. Comparable to BICE Wealth Management's Miami-based offering for cross-border Chilean HNW clients.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/bancobice
• YouTubeyoutube.com/@BancoBICEoficial
• Facebookfacebook.com/BancoBICE
• LinkedInlinkedin.com/company/banco-bice
• Instagraminstagram.com/bancobice/?hl=es-la

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Banco BICE