In its third edition, Open Views 24 once again gathered the most relevant voices from the fintech and open finance ecosystems in Latin America during a digital event that took place on the 13th and 14th of May.
During the third edition of Open Views, the spotlight was put on how, after years of discovery and development, 2024 has already become the year open finance became an essential component of every leading financial innovator in Latin America.
Building upon the foundation laid by previous years, where innovators explored the potential of open finance to build better financial services, tangible examples of these efforts were showcased. Real-world applications had already shown transformative impact as these models reached millions in Latin America, reshaping the financial landscape across the region.
This year, the main drivers of these changes told the stories of how they ideated, built, and launched new services based on open finance. The event also explored the convergence of open finance and other trends transforming the financial sector: new payment methods were emerging, alternative data and AI were transforming credit underwriting, and large financial institutions had already built new products based on these models.
Day 1 of Open Views 24
We kicked off this year’s event by analyzing the evolution that the open finance ecosystem has experienced in these last years with Belvo’s cofounders during their opening keynote. Our co-founders focused on three main topics:
- Access to alternative data to better assess creditworthiness
- A new generation of credit modeling is being built on top of open finance data
- The challenge of building variable payments through A2A rails
FICO’s Chief Analytics Officer, Scott Zoldi, joined to explore the convergence of open finance data and ethical AI and how these technologies could transform credit modeling while navigating the challenges of data quality and ethical decision-making.
Representatives from leading financial institutions like Citi, Openbank and Banorte joined the event to discuss how the digital banking industry is adapting to this new paradigm in Mexico.
A special space was dedicated to the shift toward account-to-account payments seen across Latin America. In Brazil, the main use cases for Pix via Open Finance were examined, showcasing a new way to make Pix payments using the regulated ecosystem in Brazil. In Mexico, the potential of implementing bank payments through direct debit mechanisms was discussed, offering more efficiency for recurring transactions.
Day 2 of Open Views 24
During the second day of the event, representatives from the venture capital ecosystem in Brazil, including Valor Capital Group, Maya Capital, and NYSE, shed light on the main trends shaping the fintech ecosystem in 2024 across the region.
Then, we explored how players in the credit ecosystem are tapping into the potential of alternative data to expand the reach of credit to new populations. We did this with the help of Banco Inter, PicPay and Bom Pra Crédito in Brazil, and later with emerging Mexican fintechs such as Kueski and Clip, who also shared their insights on the market needs.
Finally, the most recent regulation changes in Latin America were discussed, with a focus on Colombia. Representatives from the government and the main regulatory entities (Unidad de Regulación Financiera, Bancolombia, and the Ministry of Finance and Public Credit) guided attendees through what is happening in the country after the official publication of open finance standards.
To watch all the content from Open Views 24, head to our YouTube playlist. See you all next year!
You can also listen to all of our Open Views 24 content in audio format on our Spotify channel.
