How Open Finance is Transforming the Economic Landscape in 2025

In today's financial world, with the repercussions of new political regimes, digitalization and the interconnection of systems create a specific scenario for open finance. In 2025, open finance stands out as a catalyst for global competitiveness, offering significant advantages for both companies and consumers, while in the region it is solidified through regulations and normative frameworks that seek to balance innovation with data protection and financial inclusion.

The global economy is undergoing a reinvention process, with digitalization becoming the central axis of development. In this context, open finance emerges as a strategic tool capable of breaking down traditional barriers and fostering collaboration among banks, fintechs, and other economic actors. The integration of artificial intelligence systems, big data analysis, and secure APIs enables the delivery of personalized and efficient services that meet the needs of an increasingly demanding and dynamic market.

Globally, it is estimated that the volume of transactions derived from open banking and open finance initiatives could exceed US$600 trillion by 2027, reflecting the enormous growth potential and relevance of this model in the modern economy. However, true transformation is evidenced when this digital revolution is combined with public policies and robust regulatory frameworks that ensure security, transparency, and fairness in data exchange.

Implementation and Regulation in Latin America

In Latin America, the adoption of open finance has advanced by leaps and bounds in recent years, driven by the need to modernize financial systems and adapt to an increasingly globalized environment. Countries such as Mexico, Brazil, Colombia, and Chile have taken the first steps toward implementing normative frameworks that regulate the exchange of financial information in a secure and efficient manner.

We know that although Mexico was a pioneer in the region with the implementation of the Fintech Law in 2018, which laid the foundations for the use of emerging technologies in the financial sector (this legislation not only opened the doors to the digitalization of financial services, but also established clear rules for data handling, fraud prevention, and consumer protection), there is still work to be done to develop even better practices in this field.

Brazil has followed a similar path, adopting a progressive approach in which open banking regulation has been implemented in phases. Since 2020, the country has been executing a master plan that aims to integrate traditional banks and new fintechs through common standards that facilitate the secure exchange of data. This collaborative effort has not only strengthened competition in the sector, but has also incentivized innovation in financial products and services.

Colombia and Chile have initiated regulatory processes aimed at creating robust legal frameworks for open finance. In Chile, for example, fintech laws have been promoted that are expected to come into effect in 2026, seeking to boost transparency and financial inclusion through digitalization. These legislative efforts are fundamental for generating trust among users and attracting both local and international investments.

The challenge for the region lies in achieving a balance between data openness and security, as well as developing tools to navigate future political scenarios. Regulatory authorities must ensure that data exchange occurs under strict protection protocols, thus avoiding risks of cyberattacks and fraud. Collaboration among governments, banks, and technology companies is essential to establish common standards that promote a safe and efficient ecosystem.

Advantages of Open Finance for Companies and Consumers

The open finance model offers a range of benefits that positively impact various levels:

• Personalized Services Through Advanced Data Analysis:
  With advanced data analytics, financial institutions can offer products tailored to the specific needs of each customer. For example, predictive algorithms can evaluate spending behavior and design personalized credit solutions or custom insurance policies. This personalization enhances user experience and leads to greater customer loyalty.
   

• Process Automation and Operational Efficiency:
  The automation of processes and system integration through APIs enable greater efficiency in daily operations. This translates into a significant reduction in operating costs and the optimization of internal processes, which in turn increases the competitiveness of companies in an increasingly demanding global market.
   

• Transparency and Security:
  One of the pillars of open finance is transparency in handling information. Current regulations require institutions to implement robust security measures, which strengthens consumer trust. This preventative approach is crucial in an environment where cyber threats are becoming increasingly sophisticated.
   

• Fostering Competition and Financial Inclusion:
  Data openness encourages the entry of new players into the market, increasing competition and generating better conditions for end users. By facilitating access to financial services for traditionally underserved segments, open finance promotes inclusion and helps reduce economic inequality.
   

• New Business Opportunities:
  For companies, the integration of open finance opens the door to the creation of new business lines. The ability to connect different financial services enables the development of innovative solutions that combine, for example, investment management with personalized advisory services or the integration of e-commerce platforms with direct financing systems.

Favorable Economic Scenarios and Future Challenges

The impact of open finance on the global economy, and especially in Latin America, largely depends on how regulatory and technological challenges are managed. Among the most favorable scenarios are:

• Inclusive and Sustained Growth:
  The implementation of solid regulatory frameworks and the adoption of advanced technologies can create an environment in which financial inclusion becomes a growth engine. By facilitating access to personalized and secure services, open finance not only benefits major financial centers, but also drives the development of communities that have historically been excluded from the traditional banking system.
   

• Strengthening Competition and Innovation:
  With greater data openness, financial institutions are compelled to innovate in order to maintain competitiveness. This translates into a more dynamic market, where collaboration between banks and fintechs fosters the development of technological solutions that enhance user experience. Competition not only results in better products, but also drives operational efficiency and reduces costs for consumers.
   

• Stability and Resilience Against Crises:
  The diversification of services and the interconnection of financial systems strengthen the ability to respond to potential economic crises. A system based on open finance, backed by clear regulations and a robust technological infrastructure, can offer greater stability and resilience, enabling economies to adapt quickly to unexpected changes in the global environment.

However, these favorable scenarios come with significant challenges. Integrating legacy systems with new technologies, the need for continuous training in cybersecurity, and the challenge of establishing norms that are applicable across the region are issues that require urgent attention. Additionally, consumer trust is a key factor; without clear and transparent communication about how their data is used and protected, the advancement of open finance could be limited.

Another important challenge is the coordination among the different actors within the financial ecosystem. For open finance to reach its full potential, it is essential that governments, banks, fintechs, and international organizations work together to develop common standards and interoperability policies. Transnational collaboration is critical to create a regulatory framework that responds to the particularities of each market, while keeping in mind the common objective of fostering innovation and inclusion.

Open finance is emerging as a revolution in the global financial system, and by 2025 it is consolidating as a transformative engine that transcends borders. In Latin America, the implementation of regulatory frameworks, such as Mexico's Fintech Law, progressive initiatives in Brazil, and emerging projects in Colombia and Chile, demonstrate that the region is on a path to modernization that promises great benefits. Data openness, backed by solid regulation, not only enhances efficiency and personalization of financial services, but also boosts inclusion and competitiveness in an increasingly interconnected global environment.

For companies, open finance represents a unique opportunity to innovate, reduce costs, and create new business models that respond to the evolving needs of consumers. For individuals, it translates into safer, more transparent, and personalized access to financial services, contributing to a better quality of life and the consolidation of fairer and more resilient economies.

The challenges presented, from technological integration to regulatory coordination, are significant, but the opportunities derived from a successful implementation of open finance can profoundly transform the economic landscape. The key will lie in the ability of all involved actors to adapt to a constantly changing environment and work collaboratively towards a common goal: building an inclusive, innovative financial system capable of meeting future challenges.

The challenge is great, but innovation without borders shows us that when technology, regulation, and strategic vision are combined, pathways open for sustainable and equitable economic development. In 2025, open finance stands as a fundamental pillar for constructing a future where information and collaboration form the basis of a truly transformative global economy.