The Financial Superintendence of Colombia published an account of a roundtable it held with the British Embassy in Bogotá on the path to implementing open finance in Colombia. Industry associations, public and private sector representatives, and financial sector advisers broadly welcomed the recent issuance of Decree 358, which participants linked to stronger competition in the financial system, wider financial inclusion and a better user experience based on the principle that the user owns their information. The discussion highlighted financial education on open finance as necessary both to reach a larger share of the population and to counter fraud. Participants also pointed to the need to draw on international experience, especially on hyper-personalised user experiences, involve the full public and private ecosystem, and account for sector-specific features such as insurance. Financial Superintendent César Ferrari described open finance as a long process already set in motion, while the discussion stressed that the decree creates commitments that go beyond regulation and supervision and will require coordinated work across the ecosystem for implementation.
Superintendencia Financiera de Colombia2026-05-28
Financial Superintendence of Colombia hosts open finance roundtable as stakeholders back Decree 358 implementation
The Financial Superintendence of Colombia reported on a roundtable with the British Embassy in Bogotá on implementing open finance, where stakeholders welcomed Decree 358 and linked it to stronger competition, wider financial inclusion and improved user experience based on user data ownership. Participants stressed the need for financial education to counter fraud, use of international experience, involvement of the full public and private ecosystem, and attention to sector-specific features such as insurance, noting that Decree 358 creates commitments beyond regulation requiring coordinated implementation.