Open Banking Excellence launches in Brazil for an open financial system

By Joy Dumasia

Open Banking Excellence (OBE), the global centre of community and knowledge driving change in Open Finance, announced the launching of a local chapter in Brazil to support the development and growth of the country’s open financial system. The launch of OBE Brazil takes place on 1st September at 2 pm Brazil Time (6 pm BST) with a free Campfire, a live session with debates and discussions by experts in the sector.

OBE brings together various financial services companies in its community, including FinTechs, big techs, banks, and regulators. Its members frequently meet to learn, share stories, stimulate debate and, above all, collaborate. The community has grown rapidly since its creation and has successfully developed initiatives that can be easily replicated in Brazil, considering local requirements and regulations.

OBE Brazil lands in the Latin American country at a crucial moment. The Central Bank of Brazil and Brazilian financial institutions are preparing for the full implementation of Open Banking. Sponsored by Mastercard and Accenture, with support from RAiDiAM and FDATA, OBE Brazil will start operations in the country with a Campfire, a live session that promotes debates among industry experts to inspire, educate and catalysing the growth of Open Finance. The theme of this first meeting will be “Open Banking in Brazil — Opportunities, Challenges and Learnings”.

Helen Child, Co-Founder of OBE, said: “Open Banking will trigger greater cooperation between the Brazilian banking system and FinTech startups, resulting in a better offer of financial services and products. This will attract millions of new users to the country’s financial system, and the opportunity for Brazilian FinTechs is tremendous. We believe that the plan set out by the Central Bank of Brazil will promote even more profound changes than those that took place in the UK, making Brazil a new reference in the sector. We are incredibly excited to be a part of this story.”