Prometeo, Fiskil Partner to Scale Open Finance

Mexico’s transition toward a functional Open Finance ecosystem is moving from a regulatory mandate to an infrastructure-driven phase, as players such as Prometeo and Fiskil roll out API connectivity and consent-governance layers. While the Fintech Law established the legal foundation in 2018, the development of standardized data-sharing protocols is now pivotal to closing Mexico’s implementation gap and enabling true interoperability among banks, fintechs, and digital platforms such as Mercado Libre.

________________

Open Finance in Latin America is approaching a structural inflection point. While regulatory frameworks have been in place for years in markets such as Mexico, the real transformation is now being driven by infrastructure—the connectivity, data governance, and interoperability layers required to make Open Finance operational at scale.

That was the central message from Roberto Gaudelli, Commercial Director, Prometeo, and Ernesto Schulz, Sales Advisor, Prometeo. “The real challenge today is not regulation itself,” Gaudelli said. “It is how to transform that regulatory framework into operational infrastructure that is reliable, scalable, and usable by the entire financial ecosystem.”

Across Latin America, Open Finance adoption is accelerating, but unevenly. Brazil has emerged as the regional benchmark, with millions of active consent agreements and fully operational payment and data-sharing ecosystems. Colombia is now following a similar path, with Open Finance regulation expected to be finalized imminently.

“Colombia essentially took Brazil’s playbook and replicated it,” Gaudelli explained. “You already see millions of digital keys—simplified identifiers such as phone numbers replacing complex account numbers. It dramatically improves the user experience.”

Meanwhile, other markets are drawing inspiration from alternative global models. Peru has studied India’s UPI system, while Mexico is advancing digital identity initiatives designed to enable secure data exchange.

Yet despite passing its Fintech Law in 2018, Mexico still lacks the secondary regulation and infrastructure necessary to unlock full Open Finance functionality.

“Open Finance, as it was conceived, does not yet exist in Mexico,” Gaudelli said. “The law established the obligation, but the operational infrastructure and standards were never fully implemented.”

The Infrastructure Gap

This implementation gap has created a paradox: strong fintech innovation alongside limited system-level interoperability. The core issue, Gaudelli argued, is infrastructure—not cultural resistance or lack of innovation.

“When infrastructure works reliably, adoption follows naturally,” he said.

He compared Open Finance adoption to the early days of e-commerce. Initially, consumers hesitated to share credit card information online. Only after secure payment infrastructure and reliable logistics were established did trust—and widespread adoption—emerge.

The same principle applies to financial data sharing. Without standardized APIs and consent management frameworks, Open Finance remains theoretical.

“The infrastructure has to exist first,” Schulz added. “Once you can integrate services seamlessly, trust and adoption follow.”

Prometeo has positioned itself as a foundational infrastructure provider addressing this gap. The company has built an API connectivity platform capable of validating accounts, initiating payments, and aggregating financial data across more than 50 countries.

“Our role is aggregation,” Gaudelli explained. “We connect to multiple financial institutions and expose a single standardized API. That allows fintechs, banks, and enterprises to build products without having to integrate individually with each institution.”

This connectivity layer removes one of the most significant technical barriers to Open Finance adoption: fragmentation.

“What companies want is a single integration point,” Schulz said. “They do not want to integrate separately for payments, validation, identity, and consent. Our infrastructure centralizes those services.”

Prometeo’s technology has enabled clients such as Mercado Libre to validate accounts and facilitate secure financial transactions, reducing fraud risk and improving onboarding efficiency.

The Strategic Alliance with Fiskil

To accelerate Open Finance adoption further, Prometeo recently announced a strategic partnership with Fiskil, a company specializing in consent management and Open Data infrastructure. The alliance integrates two critical layers of the Open Finance value chain: connectivity and consent governance.

Prometeo provides secure, standardized API connectivity and financial data aggregation capabilities, while Fiskil delivers enterprise-grade consent orchestration, regulatory compliance tools, and operational governance frameworks.

“The growth of the fintech ecosystem in Latin America requires infrastructure capable of supporting massive financial data exchange under regulatory standards,” Gaudelli said. “With Fiskil, we are consolidating a comprehensive solution that allows institutions to implement Open Finance efficiently and at regional scale.”

The joint solution enables institutions to access financial data securely, monetize premium APIs, and develop new financial products while maintaining regulatory compliance and robust data governance.

This integrated approach addresses one of the most persistent bottlenecks in Open Finance implementation: operational readiness.

“Institutions need solutions that integrate compliance, data governance, and operational control in a single platform,” Gaudelli explained.

Democratizing Financial Access

Beyond technical architecture, Open Finance infrastructure carries significant implications for financial inclusion.

Historically, financial services were constrained by physical distribution. Banks prioritized customers in urban centers where branches could be economically justified, leaving millions underserved. Digital infrastructure has altered that dynamic.

“The consumer was underserved,” Gaudelli said. “Before, if you wanted to grant someone a loan, you needed branches, staff, and physical presence. Today, digital infrastructure allows fintechs to reach customers who were previously excluded.”

By enabling secure data sharing, Open Finance allows alternative lenders to evaluate creditworthiness more accurately and serve customers previously considered unbankable. It also enables banks to monetize their data infrastructure and collaborate with fintechs rather than compete directly.

Successful Open Finance adoption requires coordinated action across the ecosystem, executives said.

“The responsibility is shared equally,” Gaudelli said. “One-third fintechs, one-third banks, and one-third regulators. All three must move together.”