همفکران فناوری شریف
1Introduction
The Banco Central do Brasil began implementing open banking in February 2021 in phases: public product and fee data, consented customer data sharing, payment initiation by third parties, then further data such as investments, insurance and FX, hence the rename to Open Finance.
2Discussion
Participation is mandatory for the largest institutions, with jointly defined technical and security standards. Integration with the Pix instant payment system enables direct account payments inside other apps.
3Conclusion
Brazil shows three elements working together: a regulatory mandate, shared standards and a national instant payment rail, which together have increased competition between banks and fintechs.
Sources
همفکران فناوری شریفThis article summarises the official sources cited, prepared by the Hamfekran Fanavari Sharif team for finance leaders.
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