The Financial Superintendence of Colombia published remarks by Superintendent César Ferrari arguing that open finance and low-value instant payment systems can accelerate financial inclusion, given that Colombia’s financial system still does not reach the entire population. Speaking at the SME Development Summit 2025 organised by Cafam, Ferrari described low-value instant payments as a major advance because they enable faster, real-time transactions that facilitate customer operations. He linked greater competition and technological adoption to sector growth, pointing to fintechs’ role in serving population segments not reached by traditional banking, while noting that banks have also advanced technologically. Ferrari also stated that fintechs need more capital to expand and reach underserved niches, and stressed that open finance should be implemented to create information symmetry between financial institutions and users, supporting better choices across saving, investment and financing and, in his view, fostering credit at better interest rates.
Superintendencia Financiera de Colombia 2025-08-26
Financial Superintendence of Colombia calls for implementing open finance and low-value instant payments to broaden financial inclusion
The Financial Superintendence of Colombia highlighted Superintendent César Ferrari's remarks on open finance and low-value instant payment systems enhancing financial inclusion. At the SME Development Summit 2025, Ferrari emphasized fintechs' role in reaching underserved populations and the need for more capital. He advocated for open finance to create information symmetry, enabling better financial decisions and improved credit conditions.