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Brazil's central bank to start implementing open banking in November

Tuesday 5 May 2020 13:48 CET | News

Brazil’s central bank has announced it will start implementing the Open Banking rules in November 2020. 

This means the bank is sticking to its original timetable despite speculation it might have been pushed back due to the coronavirus crisis.

Under the Open Banking rules, banks will share customers’ data with third parties that can use the information to offer consumers products, in a move expected to spur competition in Brazil’s concentrated banking market.

The central bank estimates that Open Banking will be fully implemented by October 2021. 


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Keywords: Brazil, bank, Open Banking, coronavirus, COVID-19, banks
Categories: Banking & Fintech
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Countries: Brazil
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