Trusted consultant for the Initial Structure of Open Finance with the Central Bank of Brazil, and a strategic technological ally in the development of open finance in Colombia, Sensedia announces its arrival in Chile, country that is moving towards the modernization of the financial sector with the regulation of the Open Finance System under the country's Fintech Law
The announcement is part of the international expansion plan of the Brazilian multinational specialized in the API and integration market. With a growth of 140% in Latin America in 2024, Sensedia aims to be a catalyst for strengthening and developing the open finance ecosystem on the continent through API-based technology
"The arrival of Sensedia in Chile is a strategic step in our mission to drive more digital financial ecosystems", connected and open in Latin America. Our experience in markets such as Brazil and Colombia allows us to offer a comprehensive approach tailored to the needs of the country. Let's support financial entities in their digital evolution, while we assist them in complying with regulations and developing new business models, stated Marcilio Oliveira, CGO of Sensedia
The Open Finance System of Chile is a regulatory framework aimed at modernizing the country's financial market and its participation is mandatory for various entities, like banks and cooperatives. This advancement in the region is aligned with the Open Finance regulations that are already gaining traction in more than 90 countries, with the aim of consolidating a more competitive environment, transparent and user-centered
In Brazil, Sensedia played a key role in enabling Open Finance, being a Trusted Advisor of the Central Bank and contributing to the technical standards of regulation in the country. In Colombia, the company joined CredibanCo to enable an interoperable Hub that simplifies the exchange of information between financial institutions and also participated in working groups for the standardization and technical aspects of the open finance model
The importance of APIs in Open Finance
Just like in other countries, in the context of the Open Finance System in Chile, the audited entities may not use mechanisms other than APIs to respond to data access requests. Standardized APIs contribute to the creation of a clear legal framework, promote a better experience for the financial consumer and improve technical compatibility. Besides the technical aspect, APIs are a business asset that can enhance opportunities in the context of open finance
