Trusted consultant for the Initial Structure of Open Finance with the Central Bank, the Sensedia, Brazilian technology multinational, specialized in APIs and integrations,mapped four new features related to the Open Finance system that are expected to gain traction in the Brazilian market in 2025
"After a wave of regulatory changes", marked by themes such as recurring Pix, Smart Pix, automatic renewal of consent for data sharing and start of the Journey Without Redirection, we can say that 2024 was, definitely, the year of payments. By 2025, besides the evolution of these processes, what we can expect is an expansion of the financial system, increasingly open and integrated, towards other fronts, John Richard of Almeida, Product Manager at Sensedia
According to an analysis by Sensedia, among the new features expected in the scope of Brazilian Open Finance for 2025 is the implementation of Automatic Pix, the advancement of the Journey Without Redirection, that will enable the implementation of Pix by Proximity, the beginning of credit portability and a more intensive action by the Central Bank regarding the validation of the information contained in the mandatory reports submitted by companies
With the progressive advancement of Open Finance in Brazil, we are not only becoming a reference model for other countries, as contributing to the construction of an increasingly competitive market, for the benefit of users. After all, data openness, in an agile and secure way, will allow financial institutions to better understand the profile of customers in order to offer increasingly personalized products and services, highlights Gabriela Santana, Product Manager at Sensedia
From Smart Pix to Automatic Pix
Authorized in 2024 by the Central Bank, The Smart Pix allows for automatic and programmable transfers between bank accounts of the same account holder, from the consent given via Open Finance. With that, a financial institution can transfer the balance between different accounts of the same user, according to the programmed settings
For the first half of 2025, the same API (Application Programming Interface, in literal translation) of the Intelligent Pix should release another feature: that of the Automatic Pix that, in practice, it is equivalent to direct debit, however, within the Open Finance system, explain Almeida
According to the executive, the main differences of PIX Automatic compared to direct debit refer to cost and greater user engagement due to the simplicity of the system in registering
In addition to the cost of issuing a boleto – what today is, on average, of R$ 0,68, added to the operating costs –, currently, it is only possible to register direct debit at the largest banking institutions. With Automatic Pix, small and digital banks will also be able to participate in this ecosystem, expanding the range of services and products and intensifying competition, complement Almeida
PIX by proximity, the evolution of JSR
Currently in pilot phase, the Journey Without Redirection aims to enable the environments of banking institutions and fintechs to reduce steps in the online payment process and make the offering of Pix in digital wallets possible, enabling Pix by Proximity, enabled also through NFC (Near Field Communication) technology
Thus, when making a virtual purchase via Pix through Open Finance, the user will be able to make the payment directly, without needing to be redirected to the app or internet banking of your account, through "copy and paste"
"Expected to be made available to the general public on February 28, 2025", the Journey Without Redirection is the big bet for payments to be increasingly made through Open Finance. For that, in 2025, Bacen must create a task force to ensure that JSR gains more adherence and becomes more stable, "forcing all banks to participate in the journey and allowing users to make PIX by proximity through a larger number of institutions starting in 2026", explain Gabriela Santana
Besides the banks, a JSR must also extend to payment initiators, improving the user experience, both through Pix by proximity and through checkout in e-commerce
Credit portability and EPOC
After the advances in Automatic Pix and JSR, the next step planned to be discussed within the scope of Open Finance is credit portability.
"Currently, credit analysis in different institutions is a bureaucratic process, that takes, on average, from 7 to 15 days to be completed. The portability of credit via Open Finance allows for signed credit contracts to be transferred between institutions through Open Finance, through the data consent journey, in up to three days. With that, besides speeding up the process, the market is expected to become more competitive, incentivizing the reduction of abusive fees and benefiting users, explain the executive
Another novelty linked to credit portability via Open Finance is the creation of the EPOC (Credit Proposal Forwarding), credit hiring journey via bank correspondent, in the same mold as the SPOC (Client Order Processing Society) of OpIn (Open Insurance)
"Through EPOC", a bank correspondent may send the client's consented data, whether it is an individual or a legal entity, for a list of institutions that provide credit. The goal is for them to consult the history and, from there, offer credit in a standardized way, allowing the customer to access all available rates and obtain the financing all at once, explain Santana
Precision in data
Por meio da Instrução Normativa BCB n° 441 de 20/12/2023, The Central Bank has been strengthening the monitoring of Open Finance,of mandatory observance by the participating institutions. And the forecast is that such a measure will intensify in 2025
"Currently, Bacen has four data sources: metrics, weekly and semiannual interoperability and the PCM (Metrics Collection Platform). By 2025, all of this will be charged very heavily, with less tolerance for discrepancies between the numbers reported via PCM and the numbers reported in other reports, what makes it essential for data to be increasingly accurate. The non-compliance with the rules can result in fines and sanctions, demanding total alignment in 2025, concludes the executive
