This session is designed to equip regulators and banking groups worldwide with insights and best practices from Brazil’s journey, providing a benchmark for successfully implementing similar ecosystems in other regions.
Brazil’s Open Finance Ecosystem is now the world’s largest live data-sharing ecosystem, boasting over 60 million unique active connections and engaging approximately 30 million active users - representing 20% of Brazil’s banking population. Achieving this milestone within just three years of launching the first APIs required a collaborative effort led by the Central Bank of Brazil, supported by the country's innovative banking ecosystem.
In this presentation, we will explore the key factors that propelled Brazil’s Open Finance initiative to global prominence in record time. Topics will include:
- The innovative culture of the Brazilian banking ecosystem, driven by initiatives like Pix and Drex;
- The role of the Central Bank of Brazil as a technical, pragmatic, and highly engaged leader;
- Lessons learned from the UK’s experience, and how existing standards and frameworks were leveraged;
- The governance structure established to achieve high interoperability through commitment to timelines and rigorous testing with banks;
- What new Products are being planned and how we plan to facilitate Payments with the Open Banking Flows;
