As of May 2, financial institutions operating rural credit will be able to share information along the lines of the system open banking. The Central Bank (BC) approved today (22) a resolution that allows the exchange of data from credit operations with third parties.
as in open banking, the customer will have to authorize the sharing of information. Among the data that can be passed on to third parties are services, available rates, service hours and channels and the exchange of customer registration data and products associated with rural credit operations.
In a note, the BC informed that the measure aims to expand the sources of funds for rural producers, who will have more competition to obtain credit with lower interest rates and better conditions. Sharing will also allow, according to the agency, to increase the supply of financial services and reduce the inequality of information in rural credit.
“This greater transparency can contribute to the offer of credit under better conditions for rural producers, according to the effective risk of their operations, and for the insertion of the producer in new markets”, highlighted the BC in the statement.
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The exchange of information will take place in Sicor, the BC system that records rural credit operations. With the prior consent of the customers, the information may be accessed by the following types of companies:
- banks and other financial institutions, such as credit unions;
- suppliers of funding (companies that raise financial resources);
- capital market (companies operating in the stock and derivatives market);
- risk rating agencies;
- audit firms;
- certifiers.
