The Financial Superintendence of Colombia (SFC) held an Open Finance Day to examine international experience relevant to implementing Colombia's mandatory open finance model, with support from the British Embassy and participation by Colombia's Financial Regulation Unit. The discussion follows the adoption of the mandatory framework and earlier SFC calls for gradual implementation drawing on international practice. SFC Director of Research, Innovation and Development Samir Kiuhan Vásquez emphasized cooperation between authorities and industry to develop use cases that deliver value to consumers. The discussions focused on consumer outcomes, governance and participants' responsibilities. British Deputy Ambassador Alexandra Knapton stressed that success should be measured by benefits to users, not only technological and operational implementation. Open Banking Limited Chief Executive Henk Van Hulle highlighted sound regulation as the foundation for the ecosystem's lasting operation. Financial Innovation for Impact Director of Open Finance and Open Data Teresa Chor Yan Lam emphasized reciprocity, with all participants sharing responsibilities for the system's functioning. These contributions addressed practical implementation considerations rather than announcing new regulatory requirements or deadlines.
Financial Superintendence of Colombia examines international lessons for implementing mandatory open finance
The Financial Superintendence of Colombia held an Open Finance Day to examine international lessons for implementing the country's already adopted mandatory model. Discussions emphasized consumer benefits, sound governance and reciprocal responsibilities among participants. The event continued earlier implementation discussions without announcing new requirements or deadlines.