Open Banking in Colombia

Colombia first established Finanzas Abiertas under a voluntary model with Decreto 1297 de 2022 (amending Decreto 2555 de 2010) and, with Decreto 0368 de 2026, made it mandatory: entities supervised by the SFC must share data — with the data owner's consent — under the standards the Superintendencia Financiera de Colombia (SFC) defines.

Colombia's approach is notable for its broad scope, covering not just banking but also insurance, pension, and securities data. Circular Externa 004 de 2024 sets the first technical specifications, and the SFC is publishing the schedule and standards by information category progressively. The system includes a dual-verification mechanism for the data owner's consent.

Colombia's growing fintech ecosystem, including companies like RappiPay, Nu Colombia, and Nequi, is actively preparing for open finance. The country's significant unbanked population makes financial inclusion a key driver for the initiative.