Implementation of Alerta Normativa at Banco Falabella

Banco Falabella significantly reduced the risk of regulatory non-compliance, increased the productivity of its compliance department, and expanded its team’s regulatory knowledge. This allowed them to operate more securely and focus on delivering quality financial services, strengthening their market position.

Banco Falabella

Industry: Banking

Banco Falabella is a financial institution that is part of the Falabella Group, a leading business conglomerate in South America known for its fashion, technology, and home goods stores and services.

The Challenge

Banco Falabella needed to stay constantly informed about all regulations and standards issued by regulatory bodies affecting them—from banking institutions to the National Consumer Service (SERNAC). They wanted to keep track of all daily developments in emerging regulations, including bulletins, circulars, rulings, exempt resolutions, and legislative changes in both the Senate and the Chamber of Deputies. The information had to come from primary sources and be delivered on a daily basis.

The Solution

Our company, specialized in regulatory alert services, provided Banco Falabella with a customized, automated solution tailored to their specific needs. We implemented a detailed daily report that gathered and summarized all relevant updates issued by the regulatory bodies of interest to the bank.

Personalized Approach

During the first month of implementation, we held weekly meetings with the Banco Falabella team to gather feedback and understand their specific requirements. This allowed us to refine and further customize the solution to fully meet their needs. Over time, close communication with the client was maintained through meetings every two weeks after the first month, and later every three to six months.

Results Achieved

Reduced Risk

of Non-Compliance

By being fully informed of regulatory changes, Banco Falabella significantly reduced the risk of violating any standard or law, enabling them to operate more securely and reliably.

Increased Productivity in the

Compliance Department

Thanks to the accurate and up-to-date information provided, Banco Falabella’s compliance team was able to optimize their internal processes and focus on higher-risk areas, improving overall productivity.

Greater Knowledge in

the Compliance Area

Constant access to relevant and updated information allowed the compliance team to expand their knowledge and understanding of the regulatory ecosystem, making them experts in regulatory compliance.

Focus on the

Core Mission

The solution enabled them to focus on their core mission of delivering quality financial services to their customers, strengthening their market position and increasing stakeholder confidence.