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Chile created the Sistema de Finanzas Abiertas via the Ley Fintech N° 21.521. The CMF has finalized the technical standards (NCG 514/569), but entry into force was postponed to July 2027.
Chile passed its Ley Fintech (N° 21.521), published in January 2023, creating the Sistema de Finanzas Abiertas (SFA) and a legal basis for fintech regulation. The system is overseen by the Comisión para el Mercado Financiero (CMF).
The CMF regulated the SFA through NCG 514 (July 2024) and finalized the technical standards with NCG 569 (June 2026), which adds Anexo Técnico N°3 (interoperability, certification, security, API operation, consent, participant directory, and payment initiation). Entry into force was postponed from July 2026 to July 2027, with a gradual rollout by groups; participation is mandatory for information providers such as banks, card issuers, certain insurers, and fund administrators.
Chile's relatively advanced financial sector, high internet penetration (90%), and growing fintech ecosystem position it well for open finance adoption. Santiago has become a Latin American fintech hub, with companies like Fintual, Buda.com, and Khipu operating in the market.
Yes, in law but not yet in operation. The Ley Fintech N° 21.521 (2023) created the Sistema de Finanzas Abiertas (SFA), and the CMF has finalized the technical standards — but entry into force was postponed to July 2027.
The Comisión para el Mercado Financiero (CMF), which regulated the SFA through NCG 514 (2024) and finalized the technical standards with NCG 569 (2026).
July 2027, rolled out gradually by participant group. The CMF postponed the original July 2026 date when it issued NCG 569. CMF test environments are already available.
Banking data, insurance, securities and payment initiation. Participation is mandatory for information providers including banks, card issuers, certain insurers and fund administrators.
The two CMF standards governing the SFA. NCG 514 (2024) regulates the system; NCG 569 (2026) adds Anexo Técnico N°3, covering interoperability, certification, security, API operation, consent, the participant directory and payment initiation.
Fiskil helps financial institutions, fintechs, and enterprises around the world deliver a successful open finance program.
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