Open Banking in Costa Rica

Planned

Costa Rica is in the planning stages for open banking, with the BCCR and SUGEF evaluating regulatory approaches to complement the SINPE payment system.

Key Facts

Approach

Regulated

Regulatory Body

Banco Central de Costa Rica (BCCR) / SUGEF

Topics

Open Banking

Data Scope

Banking data, Payment services

Timeline

2023Costa Rica begins evaluating open banking regulatory frameworks

Open Finance in Costa Rica

Costa Rica is exploring open banking regulation through its central bank (BCCR) and financial supervisory body (SUGEF). The country's SINPE payment system already provides significant digital payment infrastructure. Open banking development would build on this foundation, potentially enabling third-party access to bank data and payment services. Costa Rica's stable regulatory environment and growing fintech interest support eventual framework development.

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Related Resources

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