In an increasingly digital world, Open Finance, the data-sharing ecosystem between banks created by the Central Bank, continues to bring new use opportunities that facilitate consumers’ daily routines. According to the Brazilian Federation of Banks (Febraban), the number of active subscriptions jumped from 43 million in January 2024 to 62 million in January 2025, a growth of 44% in just one year. The system also records over 2.3 billion successful communications per week, consolidating it as one of the main transformative tools in the country’s financial sector.
Although the scenario is positive in several aspects, the country faces significant resistance to the adoption of this new system. According to Datafolha surveys, 55% of Brazilians have never heard of Open Finance, and another 19% say they are ‘poorly informed’ and ‘know almost nothing about it.’
The reasons for this hesitation may be rooted in the perception of value. Pix, for example, a recent innovation in the financial system, delivered tangible benefits to consumers by enabling instant and free transfers, which led to its massive and successful adoption. Open Finance, on the other hand, has yet to fully demonstrate its real advantages and appears less tangible to the general public.
Many consumers, for instance, still do not understand that data-sharing between institutions can generate direct benefits, such as better credit rates, personalized offers, and centralized financial management. Without understanding the benefits, customers hesitate, feel insecure, and this scenario results in low adoption, ultimately limiting the system’s impact.
Additionally, trust and data security is another critical point. Although Open Finance is regulated and operated under strict security standards and compliance with the General Data Protection Law (LGPD), many Brazilians remain skeptical about their privacy and the ethical use of their information.
This concern is intensified by a history of digital fraud, keeping financial institutions on constant alert about the need to reinforce protection and communication measures. Therefore, it is crucial for institutions to demonstrate how secure Open Finance is, which involves strategies combining education, technology, and customer experience. Educational campaigns, for example, can provide practical examples of how the system can improve people’s financial lives.
Meanwhile, investment in intuitive user journeys makes the value of adoption clear while reinforcing customer transparency and control over their data. In terms of technology, the use of secure APIs (Application Programming Interface), multi-factor authentication, and advanced encryption are essential practices.
Another important aspect is developing Artificial Intelligence (AI)-based solutions to offer personalized financial recommendations, reinforcing the system’s relevance to users’ daily lives. This includes alerts for debt renegotiation, suggestions for more advantageous investments, or even exclusive credit offers with favorable terms.
Partnerships between digital banks, fintechs, and technology companies also play a key role in this process. Together, these players can promote solutions tailored to consumers’ specific needs, combining robust security with clear incentives, such as cashback, rewards, and access to exclusive financial products.
The success of Open Finance in Brazil depends, above all, on companies’ ability to become relevant to consumers. Just as Pix demonstrated the power of utility through its simplicity, this system must show, in practice, how it can transform Brazilians’ relationship with money, creating a more inclusive, transparent, and innovative financial ecosystem.
