Open Banking Expo, the largest global community of Open Banking and Open Finance executives driving one of the biggest digital transformations across the financial services sector, has partnered with open banking advisory company Open Vector to support the growth of the open banking ecosystem in Latin America.
The partners will launch community meet-ups to bring together financial institutions, regulators and industry leaders to accelerate the proliferation of open banking in the region.
Latin America boasts a thriving fintech sector that has been looking at the UK’s experience as a model for how to advance open banking, drive innovation and support financial inclusion across a number of countries such as Brazil and Mexico.
But not all Latin American countries are moving at the same pace on Open Banking adoption, with some preferring a market-driven approach to one driven by regulation.
Carlos Figueredo, founder and CEO of Open Vector, said: “The LatAm region is continuing to show incredible potential and expansion in the use of open banking and open finance. But a key element that is required for this movement to succeed, is to provide education, discussion and communication by and to everyone in the region through a credible channel. So, for Open Vector to have this partnership with Open Banking Expo to expand to LatAm is perfect and timely as they will bring to the region the structured and well-executed conferences, webinars and news they are well known for today throughout Europe. Coupled with our well-known work and knowledge of the region, it will make this partnership and delivery relevant and credible.”
Adam Cox, co-founder of Open Banking Expo, said: “Latin America is firmly on the open banking and open finance road map. We have always supported its community and believe bringing everyone’s knowledge and experience together is key for the growth of this industry. The region already has a thriving fintech ecosystem and we’re excited to play our part in providing an impartial media and intelligence platform that will further promote collaboration and harness innovation. Working with Carlos and the Open Vector team will ensure we capture the topics and themes that matter most to the industry and we feel the partnership couldn’t come at a better time.”
Open Vector advises governments, financial institutions and fintechs on how to implement and integrate safe and secure open banking and open finance products and solutions, while ensuring customers are protected. Carlos Figueredo was Head of Data Standards for the UK Open Banking Implementation Entity (OBIE) and oversaw the development of its ISO 20022-based standards.