Open Finance
Legal governance of data and service sharing within the Open Finance ecosystem.
Open Finance allows the sharing of data and services among system participants, subject to Central Bank rules and the customer's authorization in the cases provided for. Consent is part of a regulated journey, which must be understandable and allow management by the user. Participation requires attention to the functions performed, the applicable standards and the responsibilities of those who transmit, receive or use the information, including in payment initiation services.
The legal work covers the analysis of digital journeys, consent instruments, contracts with suppliers and security and privacy policies. The specific requirements of Open Finance must be made compatible with the LGPD and with confidentiality duties. Receiving data does not authorize any subsequent use for any purpose. Recording authorizations, handling revocations and organizing internal responsibilities are central elements for demonstrating compliance and responding to complaints or incidents.
Our work
- Review of journeys and consent instruments
- Contracts and responsibilities in data sharing
- Alignment between Open Finance, confidentiality and the LGPD
Does consenting to Open Finance allow any use of the data?
No. Sharing and processing must respect the authorized scope and the regulatory and data protection requirements applicable to each purpose.
Editorial review: