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Superintendency of Banks applies measures to reduce bureaucracy and environmental impact

Superintendencia de Bancos aplica medidas para la reducción de burocracia y el impacto ambiental

As part of its efforts to streamline the processes of attention to financial intermediation entities and users, the Superintendence of Banks (SB) develops multiple initiatives that mitigate the environmental impact of its operations and reduce bureaucracy both within the organization and in interactions with the sector it supervises.

Among these efforts, the supervisory body cites the implementation of the qualified electronic signature in order to streamline its internal processes and make responsible use of resources. As a result, 98% of the applications processed in the first half of this year by the Department of Records and Authorizations have been completed digitally.

In general, the application of this technology has allowed a 27.4% reduction in the amount of paper used by the institution in the submission of internal and external documentation during the first half of this year. In the Department of Records and Authorizations, the decrease was 65%.

The institutional digitalization process is also part of the environmental policy adopted by the SB, which is part of the actions to obtain the 3Rs Sustainability certification.

On the other hand, the SB launched a resource planning system (ERP) for the areas of Administration and Finance, Human Management and Operations, in order to digitize and streamline the transversal and support processes of the institution. Among them, the requirements of purchases and payments and receipts and dispatches of supplies, among others.

Another of the milestones reached by the SB has been the issuance of SB Circular No. 011/22 ondigital onboardingof financial products and services, opening the way for entities to link customers in a completely digital way, contemplating security mechanisms for the proper authentication and validation of each user.

Likewise, the supervisory entity participates in other projects aimed at reducing the number of reports sent by supervised entities, in order to achieve more fluid and efficient exchanges.

These efforts support the Zero Bureaucracy government program, whose purpose is to increase efficiency in the State by improving regulations, streamlining processes, and automating and digitizing procedures and services, reducing time and costs for society. . They also affirm the institutional commitment to innovation and efficiency.

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