The next phase of the implementation has been delayed in one month as institutions adapt their systems for the new model.
Brazil’s Central Bank has delayed the introduction of the data sharing phase of the national Open Banking project as financial services institutions prepare their technology set-ups to cater for the new requirements. According to the Central Bank, the decision is a response to a formal request from the Open Banking governance structure, as the participating institutions are finalizing the tests to secure the approval and registration of their open application programming interfaces (APIs), which will enable third-party developers to build applications and services around the participating financial institutions, with consumer data shared with their consent.
