In an increasingly digital world, Open Finance, an ecosystem for sharing data between banks created by the Central Bank, continues to bring new opportunities for use that facilitate the consumer's routine. 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 more than 2.3 billion successful communications per week, consolidating it as one of the main tools for transforming the financial sector of the country.
Although the scenario is positive in several aspects, the country faces significant resistance in the accession of this new system. According to Datafolha research, 55% of Brazilians have never heard of Open Finance and other 19% say they are “mal informed” and “knownothing about”.
And the reasons for this hesitation may be anchored in the perception of value. Pix, for example, which is a recent innovation of the financial system, has presented tangible benefits to consumers, enabling instant and free transfers, which allowed its massive and successful adoption.Open Finance, in turn, has not yet been able to exploit its real advantages and appears to be less tangible for the general public.
Many consumers, for example, still do not understand that the sharing of data between institutions can generate direct advantages, such as better credit rates, personalized offers and centralized financial management. Without understanding the benefits, customers do not adhere, feel insecure and this scenario results in lack of adherence, which ultimately limits the impact of the system.
In addition, trust and security in data is another critical point. Although Open Finance is regulated and operated under strict security and compliance standards with the General Data Protection Law (LGPD), most Brazilians remain skeptical about privacy and the ethical use of their information.
This fear is intensified by a history of digital fraud, which puts financial institutions on constant alert about the need to strengthen protection and communication measures. Therefore, it is essential that institutions demonstrate how Open Finance is safe and this involves strategies that combine education, technology and customer experience. The conduct of educational campaigns, for example, brings practical examples of how the system can improve people's financial lives.
Investing in intuitive user journeys makes clear the value of membership, while enhancing transparency and customer control over their data.In terms of technology, the use of secure APIs (from the Portuguese language, 'IS, application programming interface’), multifactor authentication and advanced encryption are essential practices.
Another important point is to develop solutions based on Artificial Intelligence (AI) to offer personalized financial recommendations, reinforcing the relevance of the system to the user's daily life, including alerts for debt renegotiation, suggestions for more advantageous investments or even credit proposals with differentiated conditions.
Partnerships between digital banks, fintechs and technology companies also play a key role in this process.Together, these players can promote solutions that meet the specific needs of consumers, combining robust security with clear incentives such as cashback, rewards and access to unique financial products.
The success of Open Finance in Brazil depends, above all, on the ability of companies to become relevant to the consumer. Just as Pix demonstrated the power of utility for its simplicity, this system needs to show, in practice, how it can transform the relationship of the Brazilian with money, creating a more inclusive, transparent and innovative financial ecosystem.
