Open Banking kicks off in Brazil
Today (1) the first of four phases of Brazil’s Open Banking implementation has started, as part of the country’s broader agenda of modernization of the national financial ecosystem.
The initiative, led by the Central Bank of Brazil, also aims to boost market competition and increase financial education in the Latin American country. Under the model, use of open application programming interfaces (APIs) enable third-party developers to build applications and services around the participating financial institutions, with consumer data shared with their consent.
By Angelica Mari via ZD Net