Regarding the business area “Analytics and research/data management/risk management”, we are not aware of any noteworthy discussions on the subject.
There is no specific regulation regarding FinTechs in this line of business. Accordingly, and apart from compliance with general rules applicable to service providers, there generally are no specific license, minimum capital or liquidity requirements.
However, in case the data are considered to be of personal or sensitive nature, its collection and management would be protected by law. In this regard, Chilean law currently defines personal data as “any information concerning identified or identifiable natural persons”, and sensitive data as “data referring to people’s physical or moral characteristics, or facts or circumstances of their private life or intimacy, such as personal habits, racial origin, ideologies and political opinions, religious beliefs, physical or mental health states and their sexual life”. Currently there is a bill in congress which is aimed at strengthening Chile´s data privacy regime which even considers the creation of a governmental agency with faculties to oversee its compliance and fine breaches to the same.
Information regarding revenues and customers is not readily available.
Rodrigo De Alencar