Colombia Fintech Association, FinTech México, Belvo, and other associations have partnered to propose joint standards for Open Finance in LATAM.
Fintech associations from Colombia, Peru, Mexico, and Chile published a paper in which it was proposed a series of joint standards for Open Finance.
According to the comments published in the press release by officials from the Colombian Fintech Association, FinTech México, and Belvo, the collaboration has the objective to make the needed information available to regulators in the areas, in order for them to establish a common standard and develop an improved fintech ecosystem while providing lower costs for end-users.
The aim of the document was set on fostering comprehensive regulatory bodies across the Latin America region, which aims to enhance cross-border transactions and implementations. Following the publication, each one of the four associations will present this proposition to its respective regulators
