Open banking:​ regulação e objetivos

Abstract

Open banking​, or open financial system, is regulated by the Central Bank of Brazil and is based on data sharing between financial institutions upon client’s consent. The objective is to verify whether the regulation of open banking, in theory, will serve to fulfill the objectives proposed to the institute, in the areas of innovation, competition, efficiency, and financial citizenship. As a method, the analysis of the normative instruments that discipline it was adopted, based on scientific studies on related topics and reports from official bodies. The conclusions indicate that yes, the rules that regulate open banking make it possible to achieve its objectives, although each area has its particularities. In line with the General Data Protection Law and with international experiences, open banking, in an environment of contextual integrity, has the potential to cause profound changes in the National Financial System, transforming the way consumers and financial institutions deal with data.