Central Bank of Uruguay Vice President Ana Claudia de los Heros outlined the user protections that should underpin Uruguay’s planned open finance system during a Compliance Day 2026 panel. Building on the proposed legal framework for consent based financial data sharing, she emphasized that sharing should provide value through services tailored to users’ needs rather than become an end in itself. The future legal framework would support the gradual construction of new infrastructure and the subsequent definition of the implementation timetable, technical and cybersecurity standards, access conditions, supervision, governance and participant responsibilities. User consent should specify what information may be shared, with which institution and for how long, and should be revocable and traceable. Users should also know where to submit complaints and obtain responses.
Central Bank of Uruguay vice president outlines user consent safeguards for planned open finance framework
Central Bank of Uruguay Vice President Ana Claudia de los Heros outlined the user protections needed for the country’s planned open finance system. Consent should specify the data, recipient and duration of sharing, remain revocable and traceable, and be supported by clear complaint channels. The future legal framework would provide the basis for phased implementation and detailed technical, cybersecurity, access and governance rules.