Open Banking in Mexico

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rules for aggregated and transactional data — the ones that would make open banking functional and mandatory — remain unpublished as of 2026, well past the statutory deadline and with no official timetable (the omission has prompted amparo litigation).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.