Open Banking in Brazil: A “Disruptive Step” Towards the Increasing of Competition in the National Financial Sector and Consumers’ Welfare?

Following an upward trend in the global agenda for digital-driven economies, Open Banking has emerged as a hot topic in Brazil. Since 2018, the Central Bank of Brazil has been playing a major role to stimulate debates and foster initiatives aimed at developing a national Open Banking framework as a measure with the potential to add new features and change the course of the Brazilian financial sector, so as to pave the way for a more competitive, efficient, innovative, transparent and inclusive f