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CMF appoints Coordinator of its new Financial Innovation Center

The Center’s main tasks include supporting the implementation process of the Fintech Act and the Open Finance System in Chile.

August 22, 2023 - After a public contest, the Board of the Financial Market Commission (CMF) appointed Claudia Sotelo Videla as Coordinator of the Commission's new Financial Innovation Center (FIC), effective from September 1, 2023. Dependent from the Board, the FIC aims to create a bridge between the CMF and the private sector for the establishment of a differentiated information channel between the Commission and supervised entities. This promotes innovation in the financial sector and fulfills the CMF's market development mandate.

The FIC's main tasks include:

  • Guiding companies interested in conducting Fintech activities in Chile.
  • Assisting the Commission's General Directorates of Regulation and Supervision in their licensing and supervision activities.
  • Advising the Board and General Directors about relevant developments in technology and finance, as well as the development and monitoring of the operation of the Open Finance System.

About the Coordinator

Claudia Sotelo Videla has a degree in Commercial Engineering with a major in Administration from the University of Chile, and an MBA from the Catholic University of Chile. Her professional experience includes the positions of Senior Analyst at the Studies and International Relations Division of the former Superintendency of Securities and Insurance; Advisor to the Manager of the Financial Operations Division of the Central Bank of Chile; Project Manager and Assistant Manager of Stock Exchange Products at the Santiago Stock Exchange; Assistant Manager of Development and Business at CCLV Contraparte Central S.A. (a subsidiary of the Santiago Stock Exchange); and Associate Consultant at Chile Capital.

Since 2021, and prior to her arrival to the CMF, Ms. Sotelo headed the Technology Observatory of the Central Bank of Chile.

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