Open Banking in Brazil: expectation for small businesses
Open Banking’s progress around the world increases the number of products and provides better options for Brazilian small businesses.
The first edition of Bulletin Propague – a periodic report that monitors and analyzes the financial market’s regulatory trends – focuses on the international scenario of Open Banking, guiding qualitative and quantitative expectations regarding the supply of products and services that may arise from its implementation in Brazil.
In this edition, we analyzed world results regarding the quantity and profile of products developed due to Open Banking, contextualizing them with the Brazilian scenario: the demands and problems of small businesses that can be addressed by Open Banking if we consider that the country’s trajectory will be similar to that of other countries.
As a result, we identified that Open Banking expanded the supply of products in the places where it has been implemented, especially in the payments, banking and financial management sectors. We also highlighted that some of these solutions meet the needs of the small businesses in Brazil.
Among the financial management solutions, for example, cloud accounting and cash management services stood out, as well as applications that use artificial intelligence to predict cash flow from recent history.
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