Credibanco and Sensedia seek to give a boost to the implementation of open finance (Open finance) in Colombia. This is done with a view to facilitating the exchange of data in a secure and transparent manner between authorized actors.
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To meet this objective, the entities jointly enabled an interoperable hub that simplifies this process. This ecosystem enables interactions with multiple actorsboth data providers and receivers, through a single connection.
This solution also aims to enable members of the financial system to quickly meet mandatory technical requirements and can present the information in a standardized way.
This will not only allow banks, fintechs and other players to reach more consumers, but will also open the door for them to create more personalized products and services, while promoting financial inclusion.
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Open banking.
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According to Ricardo Zambrano, president of Credibanco, the model will contribute to creating a more competitive, innovative, transparent and reliable system for users. “The path towards Open Finance and Open Data is a wide world of opportunities and well-being for Colombians, and with Sensedia we are accompanying the different actors in its implementation”he added.
Credibanco and Sensedia already have the registration directory of the participants, as well as the APIs enabled for account aggregation and the associated consent to share the data. New application segments such as payment initiation, credit assessment and credit disbursement are also being evaluated.
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