Superintendencia Financiera de Colombia reports progress on five strategic modernisation projects including open finance and a reorganisation separating supervision and sanctions

The Superintendencia Financiera de Colombia published an update on the implementation of five strategic projects launched to modernise its operations and the supervision of Colombia’s financial system, presented by Superintendent César Ferrari in a public discussion at CAMP 2026. The update highlighted progress across open finance, which Ferrari linked to more competition through transparent pricing, free entry and exit, and more symmetric price formation as market participants access the same information. On technology and supervisory transformation, the SFC pointed to the launch of the Single Module for Reporting Information on the Credit Portfolio (MURIC) and said work on digital supervision will continue in 2026. A third workstream focuses on updating the risk matrix, particularly “emerging” risks, and has produced a single indicator to assess each financial institution’s situation. Regulatory streamlining includes updates to the Basic Legal Circular (Circular Básica Jurídica) and the Accounting and Financial Circular, with the latter described as forthcoming. The fifth project is an internal modernisation effort, with an ongoing reorganisation using existing resources to separate sanctioning and supervisory functions. Next steps cited in the update include further advances in digital supervision during 2026 and publication of the updated Accounting and Financial Circular, alongside continued implementation of the organisational reorganisation.