Brazil may implement open banking by Nov

The Central Bank of Brazil has announced definitive regulations to introduce open banking in the country, which is now slated to happen by 30 November. The central bank describes the proposed regulations as `the sharing of data, products, and services by financial institutions and other licensed institutions, at consumers’ discretion, as far as their own data is concerned, through the opening and integration of platforms and information systems infrastructures, in a safe, agile and convenient manner.’ Not only will open banking regulate the sharing of operational data between financial institutions, but also the sharing of consumer information - upon their consent - to endow the Central Bank’s new comparison platform with more accurate data.