Open Finance facilitates data sharing among Brazilian banks

Open Finance in Brazil allows for the authorized sharing of financial data between participating institutions, including information on accounts, cards, credit, and investments. This system, regulated by the Central Bank, enables customers to transmit their financial history to different banks to facilitate a broader view of their financial profile.

While sharing data can assist in personalizing financial proposals, comparing products, and organizing balances, it does not guarantee lower interest rates or higher credit limits. Each institution maintains the right to evaluate shared history and make independent decisions regarding credit approval, fees, and limits. Consumers retain the right to revoke consent at any time.