Chile, which is in the process of regulating the Open Finance System (SFA) within the Fintech Law, now has Sensedia, a technological enabler of Open Finance in Latin America
A trusted advisor to the Initial Open Finance Framework with the Central Bank of Brazil, and a strategic technological ally in the development of open finance in Colombia, Sensedia announces its arrival in Chile, a country that is moving towards the modernization of the financial sector with the regulation of the Open Finance System within the country's Fintech Law.
The announcement is part of the international expansion plan of the Brazilian multinational specialized in the APIs and integrations market. With a growth of 140% in Latin America in 2024, Sensedia seeks to be a catalyst for the strengthening and development of the open finance ecosystem on the continent through API-based technology.
“Sensedia’s arrival in Chile is a strategic step in our mission to drive more digital, connected and open financial ecosystems in Latin America. Our experience in markets such as Brazil and Colombia allows us to offer a comprehensive approach tailored to the country’s needs. We will support financial institutions in their digital evolution, while helping them comply with regulations and develop new business models,” said Marcilio Oliveira, CGO of Sensedia.
Chile’s Open Finance System is a regulatory framework that aims to modernize the country’s financial market and its participation is mandatory for several entities, such as banks and cooperatives. This advancement in the region is in line with Open Finance regulations that are already gaining traction in more than 90 countries, with the aim of consolidating a more competitive, transparent and user-centric environment.
In Brazil, Sensedia played a key role in enabling Open Finance, acting as a Trusted Advisor to the Central Bank and contributing to the technical standards of the country's regulations. In Colombia, the company joined forces with CredibanCo to enable an interoperable Hub that simplifies the exchange of information between financial institutions and also participated in the working groups for the standardization and technical aspects of the open finance model.
The importance of APIs in Open Finance
As in other countries, under the Open Finance System in Chile, audited entities may not use mechanisms other than APIs to respond to data access requests. Standardized APIs contribute to the creation of a clear legal framework, promote a better experience for financial consumers, and improve technical compatibility. In addition to the technical aspect, APIs are a business asset that can enhance opportunities in the context of open finance.
About Sensedia
Sensedia is a Brazilian multinational provider of API management platforms, integration and microservices solutions, and professional services. The company drives the digital transformation of large companies by enabling more agile, modern and scalable architectures, thus enabling its customers to offer digital products and experiences to their entire ecosystem. Learn more at sensedia.com.br
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