Europe's Lesson on Open Banking – What PSD2 Means for the Brazilian Market

The small amount of information that financial institutions have about their customers is one of the reasons why credit in Brazil is so expensive. Platforms that allow the exchange of information between agents like banks and FinTech startups can, however, reduce these costs. This benefits customers and institutions with lower fees and smaller risks respectively. PSD2 can be an example for Brazil, according to Fábio Lacerda Carneiro, Deputy Head of The Central Bank of Brazil, who participated in a panel on regulation at the XP Tech event in Sao Paulo. PSD2 is the new Payment Services Directive, which will enter into force in January 2018 in the European Union. It determines that all banks have "

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