Chile

Case Studies Savings Product development of Banco Estado Super Savings (Superahorros) by Banefe-Banco Santander Education Savings Account (Cuenta de Educacion) by Bandesarrollo Microempresas

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Case Studies

Savings Product development of Banco Estado (Chile), 2005
By S. del Campo E., Presentation (Microsoft Power Point)

Banco Estado has the largest branch networks in Chile and seventy percent of its clients have a savings account. Sebastian Del Campo Edward, Banco Estado's manager, depicts in this power point presentation the four problems that Banco Estado had to face in 2001 to become today's modern bank. He also shares details of their market study, segmentation strategy and the characteristics of the new products.

Los productos de ahorro de Banco Estado (Chile)

Banco Estado cuenta con la red mas grande de sucursales bancarias en Chile y setenta por ciento de sus clientes tiene una cuenta d ahorros. Sebastian Del Campo Edward, gerente de banca de Banco Estado, explica en este presentacion los cuatro problemas que Banco Estado tuvo que enfrentar para convertirse en el banco moderno y exitoso de hoy. Asimismo, el tambien da detalles sobre el estudio de mercado, estrategia y las caracteristicas de los nuevos productos de Banco Estado.

Super Savings (Superahorros) by Banefe-Banco Santander (612 KB, PDF)
Summarized from:. "A Review of Commitment Savings Products in Developing Countries', 2003
By: Nava, Ashraf, Nathalie Gons, Dean S. Karlan, and Wesley Yin

Banefe-Banco Santander is a commercial bank operating in Chile's urban areas serving approximately 750,000 total clients. Its Superahorros account allows the client to save without noticing due to its automatic transfer feature. The client can specify a fixed monthly amount that is then deducted from his/her credit card or checking account, wherever his/her salary is deposited. These monthly deductions are placed in the SUPERAHORROS account.

The Superahorros account is one of Banefe's most popular accounts, serving approximately 90,000 clients. The product is targeted to micro-entrepreneurs and salaried employees but does include a variation that is targeted to children, which has a lower monthly deposit requirement.

Education Savings Account (Cuenta de Educacion) by Bandesarrollo Microempresas (612 KB, PDF)
Summarized from:. "A Review of Commitment Savings Products in Developing Countries', 2003
By: Nava, Ashraf, Nathalie Gons, Dean S. Karlan, and Wesley Yin

Bandesarrollo Microempresas is a bank serving approximately 36,000 clients in urban, peri-urban, and rural areas of Chile. Its Cuenta de Educacion offers clients a long-term savings plan to meet the future expenses of their children's educational fees. The account has restricted withdrawals (maximum of 6 per year). It also assists with devising an appropriate savings plan for the client by calculating how much one has to save to meet future educational expenses.

See also: Household Savings in Chile: Microeconomic Evidence, 2000, Butelmann, A & Gallego, F.