Payment Ecosystems
To bring financial services within the reach of the entire population, Latin America and the Caribbean must open up the data generated by mass use of digital technologies. This is a challenge that also involves ensuring data security and privacy. Striking a balance between these two dimensions is crucial.
Open finance allows customers of financial institutions—such as banks and fintechs—to share their data with other institutions for the development of new products and services that are more affordable and aligned with their needs. Check out our knowledge repository to learn about the progress of open finance in the region and see recommendations for the responsible and secure use of data to improve financial inclusion.
