The Chile Financial Market Commission (CMF) opened a consultation on amendments to its open finance technical standards, updating the version previously consulted and adding specific guidance to regulate payment initiation activities. The proposal revises Annex 3 (Technical Annex) of General Rule No. 514 following feedback received in the earlier consultation. The revised package reflects over 400 comments submitted by 32 entities and trade associations, including banks, cooperatives, insurers, fund managers, payment operators and Fintechs. Changes include new Developer Portal elements such as a Dynamic Client Registration API, specifications for communications with boards of directors, versioning and change-logging policies, more detailed consent generation and management standards, expanded security profiles, and higher granularity levels in the portal. For payment initiation, the portal adds specifications, technical dictionaries and sequence diagrams for five payment-related APIs (one-time payments, scheduled one-time payments, recurring fixed-amount payments, recurring variable-amount payments, and fund confirmation), updates technical specifications such as error codes and availability definitions, and sets the authentication flow to “redirected mode.” Other adjustments address multi-brand support and role-based status clarification, certificate validity and revocation checks with advance non-renewal notices, streamlined maximum scheduled maintenance times, and a methodology for updating transactions-per-second levels participants must maintain in operation. The consultation runs until February 9, 2026, with submissions accepted via the CMF website’s Regulations Under Consultation section.

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