According to the central bank, the open banking It will be fully implemented in December 2021. With the new way of managing customer data, banks will be able to offer new services. However, even Credit can be facilitated for those with incorrect names.
It is worth noting that, according to Serrassa, 62 million Brazilians are in debt and unable to meet their obligations. The economic crisis resulting from the pandemic has contributed to an increase in people suffering from CPF-negative.
Open Banking: Concessional Credit
Open Banking, a direction is that credit has become easier even for people with dirty names. Among the methods analyzed is the consumer’s ability to repay debts. Sometimes a person does not pay the debt due to an unexpected event or even negligence.
But it’s usually a good driver. This can be taken into account at the time of the loan. Therefore, in many cases, banks will not analyze whether or not a person has a negative CPF. Additionally, there is an option for the consumer to share only the data they want.
What is open banking?
Open banking, also known as an open financial system, is a new arrangement of information and data that can be shared between financial institutions. With it, the possibility of creating new services and options increases.
according to central bank, Open banking in Brazil guided Six characteristics the basic:
- New business models
- inclusion of unattended parts;
- The consumer is not the center;
- greater transparency;
- portability of inter-institutional relationships;
- Take control of your finances.
Open banking in Brazil began on February 1, 2021 and was divided into four phases, the last phase coming into effect on December 15, 2021.
The central bank clarified that the person would not be required to enter Open Banking. You must authorize your bank to share the data. Moreover, if she wanted, she could withdraw from the system at any time.
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