Opinion: How Open Banking Will Redefine Brazil’s Financial Ecosystem

The coming months will be strategic for the future of the banking sector in Brazil.

RIO DE JANEIRO, BRAZIL - With the first stage of the Open Banking implementation scheduled for February 1st, a process promoting the right of customers to share their own financial information will be initiated in banks.

This will bring about a crucial change in how banks structure their business and interact with their customers, once customers are recognized as the effective "owners" of their information. This transition will not only change the relationship customers have with financial institutions, but also the dynamics and essence of business models in the banking sector, and may redefine the country's whole financial services ecosystem . . .

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