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Mexico was first in LATAM to legislate open banking (Ley Fintech, Article 76, 2018), but implementation is partial and long delayed: only open-data (ATM) API rules exist (2020); the aggregated and transactional data rules remain unpublished.
Mexico's Ley Fintech (2018) was one of the first comprehensive fintech regulatory frameworks in Latin America, and Article 76 mandates standardized data-sharing APIs. The law contemplates three types of data: open data (public product/ATM information), aggregated data (anonymized/statistical data), and transactional data (individual account data with express consent).
Implementation, however, is partial and long delayed. The CNBV published secondary rules only for open data (ATM/branch locations) in June 2020; the rules for aggregated and transactional data — the ones that would make open banking functional and mandatory — remain unpublished as of 2026, well past the statutory deadline and with no official timetable (the omission has prompted amparo litigation).
Mexico's large population, growing fintech ecosystem (including unicorns like Bitso and Clip), and significant unbanked population create strong demand for open finance services. The framework aims to drive financial inclusion alongside innovation, though implementation challenges remain in standardization and compliance.
Partly. The Ley Fintech (2018) mandates standardized data-sharing APIs, but the CNBV has issued secondary rules only for open data — ATM and branch locations and product information — published in June 2020. The rules that would make open banking functional remain unpublished.
The Comisión Nacional Bancaria y de Valores (CNBV), together with Banco de México.
The provision requiring financial institutions to establish standardized APIs for sharing data. It is the legal basis for open banking in Mexico and contemplates three data types: open, aggregated and transactional.
No. As of 2026 the rules for aggregated and transactional data remain unpublished — well past the statutory deadline and with no official timetable. The omission has prompted amparo litigation.
Three: open data (public product and ATM/branch information, in force since 2020), aggregated data (anonymized and statistical, pending) and transactional data (individual account data with express consent, pending).
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