Last Wednesday, November 26, 2025, the Claro Arena in Santiago, Chile, hosted the first Chilean edition of the Veridas Identity & Business Day. The Latin American edition, which has already seen success in Madrid, Italy, Portugal, the Netherlands, and Mexico so far this year, brought together executives from the main Chilean companies to generate a high-level conversation space on the challenges and opportunities of digital identity, security, and trust in the age of AI.
The forum featured participation from leading companies such as TAPP, Fintechile, ANFP, ARG, Bull Market, IBM, Sheriff, BPS, and Kennedys, who shared how they are revolutionizing their businesses by optimizing operations, attracting more clients, and preventing fraud.
Fraud is Real: The Industrialized Threat
The day opened with a powerful session led by Herman Sotomayor, Brand Technical Specialist in Data & AI at IBM, who highlighted the real risk posed by the scale of fraud.
“Today we live in a decisive moment for digital trust. Artificial intelligence has blurred the line between the real and the fake, creating an environment where identity is more fragile than ever, and where trust can be broken in seconds.”
Sotomayor showcased the latest developments affecting businesses, describing massive fraud, injection and impersonation attacks, and presented real examples of AI-generated fraud: cloned voices, synthetic documents, indistinguishable deepfakes, and automated attacks that no longer require technical skills. “In a world where AI fuels fraud, only AI can defend us from fraud.”
Identity as the First Line of Defense
Alfonso U. Santos, Head of Identity and GTM at Veridas, formally inaugurated the event by sharing an outlook on the current context: the growing pandemic of AI-driven fraud, where synthetic impersonations, identity manipulation, and automated attacks are redefining the risk surface of all industries. His message was direct: “Identity has become the first line of defense, and organizations need trust architectures capable of scaling with the business and anticipating these new attack vectors.”
Panel 1: Beyond Speed
This panel explored the dilemma of every digital organization—to innovate fast or protect well—and how leading companies are achieving the balance between innovation and risk in their digital transformation processes.
Felipe de Pablo (Operations Manager at ANFP) shared the experience behind the National Fan Registry (Registro Nacional del Hincha), a project that demonstrates how technology can strengthen security in stadiums without deteriorating the public’s experience. “When the purpose is clear, the user understands that technology does not control: it enables.”
Lautaro Tombolini (Chief Technology Officer at Bull Market) explained how they manage the balance between the speed of the investment market and protection against fraud. He stressed the importance of advancing with discipline. “Adoption grows fast, but discipline has to grow even faster.”
Jazmín Jorquera (Vice President of FinteChile) provided a strategic vision of the fintech ecosystem. She highlighted that the most sustainable fintechs are those that manage to harmonize compliance, innovation, and experience. “Regulation should not be a brake; well-applied, it is an enabler of trust.”
Panel 2: Trust or Nothing
This panel brought together leaders who are redefining the relationship between security, authentication, and user experience, demonstrating that preventing fraud can also be a way to build loyalty.
For his part, Vicente Cruz (Chief Executive Officer at Sheriff) opened the discussion by describing the “new face” of fraud in Chile: an industrialized, massive, and automated phenomenon. He shared how fraud schemes have evolved into true criminal ecosystems fueled by AI. “The challenge is no longer detecting the occasional scammer, but managing systemic risk without destroying the experience of the good customer.”
María Rebeca Fox (Chief Risk Officer at Tapp) delved into how to balance minimal friction and security in an environment where the user demands immediacy. She emphasized that fraud prevention must be integrated into the very design of the processes. “Fraud prevention must be integrated into the very design of the processes, so that the user perceives security as a natural part—and not an obstacle—of their digital experience.”
Víctor Andrade (Open Finance Specialist at Kennedys Law and former CMF) analyzed how financial openness (Open Finance, payment methods, and data models) must be built on chains of trust. He explained that innovation and user protection are not opposing agendas. “Regulatory success depends on ensuring that trust flows between actors without breaking the bond with the end user.”
Mauricio Papaleo (Chief of Technology of the CORE program at BPS and former AGESIC) shared the learnings from the IDUruguay digital identity ecosystem, one of the most advanced in the region. He underscored the importance of interoperable architectures, multiple levels of security, standard authentication, and continuous monitoring. “Organizations are already digital, but not all of them assume themselves to be such yet.”
Conclusion: Trust is the Currency of the Future
The Identity & Business Forum Chile 2025 not only exposed the reality of AI-driven fraud but also demonstrated that digital identity is the leverage for secure growth. The presentations led to a clear conclusion: the most resilient organizations are those that invest in trust architectures, turning fraud prevention into a seamless customer experience.
Suppose your company seeks to boost its customer onboarding, retention, and protection strategy in a high-risk environment. In that case, it is time to embrace identity as the core of your digital strategy.
Download the Veridas Identity Fraud Report now and learn about the latest trends and solutions against the world’s most advanced identity fraud.
