The Superintendency of Banking, Insurance and AFP (SBS) made the restructuring of its organizational structure official through Resolution No. 00189-2026. This change seeks to optimize supervision and, fundamentally, prioritize the implementation of open finance or open banking in the Peruvian financial system.
The reform highlights the creation of the Open Finance Department, which will report directly to the Office of Senior Management.
This hierarchical location underlines the strategic relevance that Superintendent Sergio Espinosa gives to the project, directing it to improve competition and financial inclusion. In this regard, the head of the SBS announced that the final roadmap for this system will be ready next February.
Benefits
The open finance model will allow users to authorize financial entities to share their information with other competitors through technological tools called APIs.
“The information belongs to the users and we seek to give it value to access better interest rates,” Espinosa said in previous statements.
With this plan, SBS hopes to integrate medium and small entities into a more efficient digital ecosystem, which will allow clients’ credit history to be used to receive personalized proposals and reduce costs on products such as mortgage or consumer loans.
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