Question 1

What is Coink?

Accepted Answer

Coink is a Colombian digital bank (neobanco) and financial technology company specializing in digital savings and financial services. Operating as a fully licensed entity supervised by the Superintendencia Financiera de Colombia and backed by Fogafín deposit insurance, Coink provides 100% digital banking services for individuals and businesses.

Founded on the concept of the traditional "marranito" (piggy bank), Coink combines savings culture with modern technology through digital "alcancías" (savings jars) and comprehensive financial products, serving customers exclusively through its mobile app and web platform.

Question 2

When was Coink founded?

Accepted Answer

Coink was founded in 2019 by Mario Castro and Juliana Castro, both industrial engineering graduates from Universidad de los Andes, along with their co-founding team. The original concept focused on digitizing coins, which evolved into a savings-focused digital banking platform.

The founders initially invested their personal savings to launch the venture. Mario Castro brought entrepreneurial experience, having worked with innovative financial concepts. The company later secured investment from venture capital firms and strategic investors who believed in its financial inclusion mission.

In 2021, Coink achieved a major milestone by obtaining its license as a Sociedad Especializada en Depósitos y Pagos Electrónicos (SEDPE), becoming a regulated financial institution authorized to offer deposit accounts and payment services.

Question 3

Where is Coink headquartered?

Accepted Answer

Coink is headquartered in Bogotá, Colombia, operating as a digital-first institution without traditional physical branches.

The company's technological infrastructure and administrative operations are based in Colombia's capital, though its digital platform allows it to serve customers anywhere in the country with internet connectivity.

Question 4

Where does Coink operate?

Accepted Answer

Coink operates throughout all of Colombia through its digital channels, serving customers in all 32 departments via mobile app and web platform. The bank's 100% digital model eliminates geographic barriers, providing financial services to users in urban centers, small towns, and rural areas.

While Coink has no physical branches, customers can access cash withdrawal services through partnerships with the Mastercard ATM network and Efecty locations nationwide, ensuring practical usability across Colombia's diverse geography.

Question 5

What services does Coink offer?

Accepted Answer

Coink provides comprehensive digital financial services:

Personal Banking: Digital savings accounts with balances starting from as low as 50 COP, multiple "alcancías" (digital savings jars) allowing users to save for specific goals, debit cards (physical and digital Visa), and real-time transaction tracking through mobile app.

Business Banking (Coink Empresas): Business savings accounts from 14,900 COP monthly, multi-user access with unlimited administrative users, multiple accounts under the same business entity, payment management (single, mass, and recurring), digital payment tokens for security, and business insurance options.

Payment Services: Payment buttons for online sales, QR code payments, fund transfers between banks, and merchant services for businesses.

Digital Services: Account opening in minutes with 100% digital onboarding, extracts and certificates available instantly, transaction history and financial management tools, and 24/7 access to services.

All deposit accounts are insured by Fogafín up to 50 million COP, providing regulatory protection for customer funds.

Question 6

What makes Coink unique?

Accepted Answer

Coink revolutionizes banking in Colombia by gamifying savings through the familiar concept of the "marranito" piggy bank, making financial services intuitive and accessible. The platform encourages healthy savings habits through purpose-driven "alcancías" where users can save for specific dreams and goals.

The bank's focus on financial inclusion targets millions of Colombians historically underserved by traditional banks, offering nano-savings capabilities and extremely low entry barriers (savings starting at 50 COP).

Coink operates with proprietary technology, including its own core banking system allowing near-real-time processing of operations. The bank emphasizes high security standards, intuitive design, and accessibility for users with limited financial literacy.

As a regulated SEDPE, Coink offers full banking protections while maintaining the agility and user experience of a fintech startup, positioning itself as "Fintech for All."

Question 7

What type of financial institution is Coink?

Accepted Answer

Coink operates as a Sociedad Especializada en Depósitos y Pagos Electrónicos (SEDPE) in Colombia, a specialized financial institution category created to promote digital financial innovation.

SEDPEs are licensed financial institutions supervised by the Superintendencia Financiera de Colombia, authorized to offer savings accounts, payment services, and related financial products primarily through digital channels. This regulatory framework allows Coink to operate as a full bank with deposit insurance protection from Fogafín while maintaining a purely digital operational model.

The SEDPE classification positions Coink between traditional banks and unregulated fintechs, combining regulatory security and consumer protections with technological innovation and digital-first service delivery optimized for Colombia's evolving financial landscape.

Coink

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About Coink in Colombia