What to expect from Open Finance in 2021?

April 7, 2021

Open Finance involves an extension of Open Banking principles to a wider field of financial services and products. It is a new paradigm where data from multiple sources beyond banking can help build innovative and inclusive financial services.

These conditions make Open Finance a perfect fit for Latin America, a region where users’ financial lives don’t take place exclusively within the walls of banks. In part, because part of the population is still underserved by traditional financial institutions: only 51 percent of adults in the region are bank account owners. And, increasingly, because emerging fintech providers are targeting these customers with digital solutions.

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Spotlight

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