Continual
development of new enhanced solutions for customers and constant optimization
of service standards are ongoing concerns throughout the organization
and represent two of the most solid business growth sources. Remarkable
within this context during 1999 were new time deposit and savings alternatives,
new services for Banjoven cards (young customers), new credit card options,
a better solution for consolidated management of corporate current accounts
and Automated Payment of Multibank Accounts for this segment, new information
services for middle market current accounts, five new personal insurance
alternatives, and the launching of the Redcompra service.
The creation
of Electronic Banking Management deserves special mention; taking maximum
advantage of technologies such as the Internet,
wap, and others, as well as integral treatment at the Corporation’s
level, it seeks to provide the best service to customers and ensure
the leadership of the Bank and its subsidiaries in all business areas
on the Internet. To this aim, during 2000 the Bank’s presence on the
Internet was greatly fostered through implementation of segmented portals
specialized for retail customers, corporate customers, and investors.
As a result, the number of habitual user customers and the number of
transactions performed through this channel have been increased by 300%,
thus setting a trend in the industry and leading the market in this
new service mode.
Within
the sphere of electronic,automated,and on-line service channels, the
Bank successfully completed a new period in its development and growth
plan during 1999 by installing 44 new ATMs of the latest technology,
resulting in a significant expansion towards premises outside of Banco
de Chile’s branches, such as supermarkets and massive consumption centers,
and making up a 364 ATM network throughout the country. Likewise, the
instant balance and account statement service continued to be expanded
and enhanced, completing a total of
214 terminals installed at branches and self-service centers and covering
100% of the Bank’s market.
In order
to comply with the demanding service quality standards set, provide
enhanced on-line and electronic services, optimize back-office processes,
and provide efficient support to the whole Bank’s operation, incorporation
of modern technology was furthered during 2000. In this respect, 1,330
new work stations were installed during the year under review (256 corresponding
to renovations), maintaining a state-of-the-art technological level
and fostering all commercial and operating functions; new telemarketing
platforms were implemented for retail and corporate banking; new facilities
were created concerning Fonobank, factoring, leasing, broker market,
deposits, stocks, correspondence, and foreign trade; numerous new functionalities
were optimized and developed on all business and operations platforms;
and the Bank’s data processing security was enhanced.
Furthermore,investments
made at the technological, computer, and telecommunications infrastructure
level have enabled, among the most relevant aspects of the year, improvement
of outside network connectivity, improvement of processing facilities,
enhancement of multi-line telephone systems, implementation of a new
call center with 84 work stations, and replacement of 657 microcomputers
by state-of-the-art technology throughout the branch network, preparing
for the future evolution planned with respect of the Bank’s software
and operating system.
The year
2000 was once again an intensive period in terms of systems development.
Among the most relevant aspects in this area, note should be taken of
the implementation of a new Bank-risk management system, which provides
indicators for all the levels of the Organization with a single overall
perspective; incorporation of new products, functionalities, and quality
control processes into the Bank’s fee and profitability systems; a new
application for management of terms and conditions agreed upon with
correspondent banks for foreign trade business transactions; refinement
of goal control and commission payment systems in support of Business
Divisions’ management; optimization of cost and delayed transaction
systems for an institutional management of past due indebtedness information;
and implementation of call center internal collection.
Within
the social context, the Bank has defined among its permanent corporate
values its commitment towards the country’s development as a whole as
well as that of the individual communities it serves. Thus, during 2000,
several institutions and individuals outstanding for their labor in
the cultural, social, sports, educational, health, and community action
spheres relied on Banco de Chile’s support for the performance of their
activities and projects, with the “Telethon ” campaign being the most
relevant. Banco de Chile has participated as a fundamental pillar since
inception of this endeavor that enables rehabilitation of thousands
of physically challenged children and adults throughout the country.
This year,
the campaign completed a successful new 27-hour event, during which
the Bank, once again, had a remarkable participation through its own
substantial monetary contribution as well as the collection of personal
and corporate donations from throughout the country. To this aim, in
addition to its regular branch network, more than 250 special collection
outlets were installed, and very innovative options were implemented
in more than 360 of the Bank’s automated teller machines,on the Internet
site, and by Fonobank to enable remote donations as well. Very important
within this activity was undoubtedly the efficient and unselfish effort
of all the Bank’s staff both during the event as well as the weeks prior
to its development.
Also noteworthy
within the 2000 management are the numerous awards and recognitions
obtained, once again, by the Bank, both in the country and abroad,among
which the most important are “Best Bank in Latin America–Fourth Place
”(América Economía magazine), “Most Admired Company in Chile –Second
Place ”(El Diario newspaper–Price Waterhouse Coopers), “Best Corporate
Image in 200–Second Place” (El Diario), “Most Admired Company in Chile
–Fifth Place” (Adimark–La Segunda newspaper), and “Best Bank Publicity
in Latin America–Second Place Point-of-Sale Campaign” (Federation of
Latin American
Banks-FELABAN).
Although
perspectives point to an increasingly competitive environment, with
growing participation of banks that operate on an international basis
and potential new mergers that will increase the Chilean banking system’s
capacity, the results obtained and progress made by Banco de Chile during
2000 enable it to face the new millennium with the conviction and security
of a Financial Institution that is prepared to sustain the evolution
projected with efficiency and quality, and continue to lead the industry
from its position as the best bank in Chile.
