Infographic: what to expect from Open Finance in 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.
In our Open Finance Trends in 2021 report, we cover the main six trends that are changing the way people and companies use financial data in Latin America. From regulatory changes to the emergence of new models and use cases, as well as digital players increasingly competing with banks, it covers how these trends will shape a new ecosystem in 2021.
If you want to learn more about the Open Finance trends across Latin America in 2021, download our full report.