Brazil delays integrating payments into ‘open banking’ project
Phase three of project delayed to October after technical difficulties emerge
The Central Bank of Brazil delayed the third phase of its open banking initiative, which seeks to integrate payments systems, after banks reported technical obstacles.
The CBB’s board announced the delay on August 27, three days before the project had been due to start. It aims to implement the project in stages in 2021 and 2022.
The central bank says the open banking initiative is designed to allow “sharing of data, products and services between regulated entities”. Financial services firms
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