The Chilean fintech specialized in regulatory technology ( RegTech ) and insurance ( Insurtech ) raises the urgency to create an association that represents companies and startups that demand anti-corruption services, as it also influences their ability to adapt to the different cultural and regulatory contexts of Latin American countries.
In the fast-paced world of technology and economics, Ceptinel emerges as a key player in the fight against corruption and financial crimes in Latin America. The Chilean fintech, with six years of operation, has 22 clients distributed across Chile, Peru, Panama and, since January has an office in Colombia.
The firm created in 2019 aims to help organizations to prevent corruption, money laundering, terrorist financing, fraud (both internal and external), and market abuse, as well as support them in continuous monitoring (audit and internal control ) and risk management.
“We use predefined control rules to analyze data, both from internal sources and public information,” explained Gerardo Schudeck, CEO of Ceptinel to AméricaEconomía. “In the event that an anomaly or deviation from established patterns is detected, an alert is generated.”
Specialized in regulatory technology (RegTech) and insurance technology (Insurtech), Schudeck noted that their medium-term goal (2026) is to have 80 clients in current markets and Mexico. However, the final aspiration is to reach the United States market, where its main investor is located: HCS Capital.
According to the Coalition Against Insurance Fraud, payments for fraudulent claims reach US$308.6 billion a year in the United States. Additionally, according to the Texas Department of Insurance, non-medical insurance fraud costs the American family an average of $400 to $700 a year.
This is evidenced by rising demand from banking, pensions, funds and brokerage houses, as well as in the insurance industry, which account for 40% of the client portfolio.
“Our focus is medium and large companies and corporate groups,” Schudeck stressed.
The CEO of Ceptinel was recently in Peru for the rounds of negotiations with companies and startups organized by Insurtech Chile, to which his company belongs. And although there is no formal Insurtech association in Peru, he was received by the Peruvian Insurance Association, which represents all companies in the traditional insurance sector in the nation.
“We seek to present our solutions through available associations to support companies in aspects related to regulatory compliance and risk management,” he explained.
However, he pointed out the evident lack of a single association that represents and encourages companies to operate with RegTechs and Insurtechs for their own benefit and that of the country.
“We need the creation of Insurtech Peru,” declared Schudeck.
This is also part of the company's growth strategy, as it influences its ability to adapt to the different cultural and regulatory contexts of the countries where it operates.
Regulation in the financial system is similar in Colombia and Chile, he continued, which is why there are several Chilean companies in the country. Even Mexico, Schudeck added, has a similar system, but they cannot expect the same from other countries, so Peru would be one of the countries included in the implicit message to governments to create this association.
"Each country approaches corruption prevention laws differently, which has been part of the learning for us," Schudeck said. “There are our different speeds of implementation.”
Among Ceptinel Chilean clients, Banco de Crédito e Inversiones (BCI), insurance company Zurich, pension fund manager Plan Vital, Caja de Compensación Los Andes and its fintech Tapp (prepaid card) stand out. Meanwhile, in Peru its clients are AFP Prima and Pacífico Seguros, from the Credicorp group.
Following a recent update in services, the firm also offers advanced technology in machine learning and artificial intelligence.
