Chilean fintech Xepelin has announced the launch of a fully digital current account for small and medium-sized enterprises in partnership with Banco BICE. The move is described by CEO and co-founder Sebastián Kreis as the company's largest product development step since its inception. The new account will operate without branch visits or physical signatures and will combine artificial intelligence with usage-based rewards.
Strategic Alliance with Banco BICE
The partnership brings together Xepelin's technology and client experience with Banco BICE's BICE Connect infrastructure. Under the model, Xepelin will manage the platform and the customer relationship, while Banco BICE will provide the regulated banking rails. Kreis said the bank gains access to a small and medium-sized enterprise segment it had not prioritized before.
Digital Account Features and AI Integration
The account will be fully digital and will integrate artificial intelligence to better understand each company's daily operations. Users will have no opening, maintenance or transfer fees, and a reward system will increase benefits based on active use. The first 100 companies that join the waiting list will be recognized as founding companies with exclusive benefits.
Banking as a Service Model
The arrangement is inspired by fintech references such as Ramp in the United States and follows a banking as a service model. Xepelin will operate the platform and own the client relationship, while Banco BICE contributes regulated banking infrastructure. For Xepelin, this avoids the lengthy process of obtaining a banking license in Chile, which Kreis said is not currently being pursued.
Existing Ecosystem and Market Context
The digital account joins Xepelin's existing ecosystem, which includes factoring, credit, supplier payments and a management platform. Kreis noted that companies currently have to go to a bank for a current account, seek financing elsewhere and hire separate management software. The new product aims to place all of these services in one place and reduce fragmentation for business owners.
Profitability, Scale and Funding
Xepelin serves more than 80,000 clients across Chile and Mexico and has channeled more than US$11 billion in financing since its founding. The fintech holds more than US$600 million in active credit lines, employs around 450 people, and has integrated more than 50 artificial intelligence tools into its operations. Kreis confirmed profitability in both markets this year, and a US$20 million funding round closed at the start of the year will support the digital account.
Mexico Expansion and Future Licensing
In Mexico, Xepelin is advancing toward a Sofipo license, which is in its final regulatory phase without a defined date. The digital current account will start with a soft launch and waiting list this week, while formal opening is planned for the next quarter. Kreis said the company is not currently seeking a banking license in Chile.
Xepelin's launch reflects a broader movement toward integrated digital financial services for small and medium-sized enterprises in Latin America. By combining banking infrastructure with artificial intelligence and a unified platform, the company aims to give business owners more time to focus on their operations. The collaboration with Banco BICE marks a significant step in making day-to-day financial management and financing available in one place.