In 2018, Mexico’s Fintech Law established the country’s first regulatory framework for open finance. Then, regulators recognized the potential benefits for Mexicans of being able to use their own transaction data to access more and better financial services. Eight years later, Mexico has an opportunity to shape its secondary regulation based on a much stronger track record and more advanced technological standards than those available when the framework was first established.
In the meantime, Mexico’s fintech and open finance ecosystem has continued to advance, strengthening innovation and security while drawing on lessons from international experiences. The industry has continued to build and evolve, even as the regulatory framework remains under development. The question is no longer whether there is demand for this evolution, but how best to support it. Consumers and businesses…
