16.5.2019 | Legal Bulletin

Open Banking, secrecy and consent

The Central Bank is planning to implement an Open Banking model that is likely to speed up integration among institutions. The underlying concept of sharing data, products and services among institutions raises concerns about banking secrecy. However, if there is express consent by the client no legislative change would be required.

16.5.2019 | Legal Bulletin

Fintech as opportunity for foreign investment

There were 450 fintechs operating in Brazil by the end of 2018, and the number is growing. As a result, authorities are trying to create a regulatory environment that fosters innovation, protects consumers and grants surveillance. In the meanwhile, foreign investors can invest in credit fintechs without a presidential authorization that could take years to be obtained.

16.5.2019 | Legal Bulletin

Time for experiments in the payment system

As it is happening worldwide, the use of electronic payment instruments is increasing in Brazil. Emerging technologies that transform the way people make payments lead to a necessary change in regulation. A regulatory sandbox that allows live testing of innovations in a controlled environment is a good option for the country.