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OBE Expands to Brazil and Launches With a Live Campfire Session in September

Aug 29, 2021

August 27, 2021 Open Banking Excellence (OBE), the global centre of community and knowledge driving change in Open Finance, has announced the launching of a local chapter in Brazil to support the development and growth of the country’s open financial system. The launch of OBE Brazil takes place on 1st September at 2 pm Brazil Time (6 pm BST) with a free Campfire, a live session with debates and discussions by experts in the sector. Open Banking, or open financial system, is the process of banks and other financial institutions sharing consumer banking, transaction and other financial data in a safe, agile and convenient way — with customer consent. Founded in the United Kingdom, a pioneer country in Open Banking , OBE brings together in its community a variety of financial services companies, including fintechs, big techs, banks and regulators. Its members meet frequently to learn, share stories, stimulate debate and, above all, collaborate with one another. The community has grown rapidly since its creation and has successfully developed initiatives that can be easily replicated in Brazil, taking into account local requirements and regulations. OBE Brazil lands in the Latin American country at an important moment in which the Central Bank of Brazil and Brazilian financial institutions are preparing for the full implementation of Open Banking. Helen Child, Co-Founder of OBE “Open Banking will trigger greater cooperation between the Brazilian banking system and fintech startups, resulting in a better offer of financial services and products. This will attract millions of new users to the country’s financial system and the opportunity for Brazilian fintechs is tremendous ,” said Helen Child, Co-Founder of OBE. “We believe that the plan set out by the Central Bank of Brazil will promote even more profound changes than those that took place in the UK, making Brazil a new reference in the sector. We are incredibly excited to be a part of this story.” Sponsored by Mastercard and Accenture, with support from RAiDiAM and FDATA, OBE Brazil will start operations in the country with a Campfire, a live session that promotes debates among industry experts with the objective of inspiring, educating and catalysing the growth of Open Finance. The theme of this first meeting will be “Open Banking in Brazil — Opportunities, Challenges and Learnings”. The Campfire will have two panels: “Brazil’s brave new Open Banking landscape: Barriers, opportunities and real-world wins”, a session bringing together those at the forefront to discuss how the country capitalises on opportunities, as well as overcome existing roadblocks — at speed; and “From the UK to Brazil: Lessons learned from the UK Open Banking journey”, where the audience will hear from those who have been paving the way, what they’ve learned and how they’ve overcome challenges. Confirmed speakers include Aristides Andrade Cavalcante Neto, Deputy Head of IT and Chief of Cybersecurity and Technological Innovation Office at Banco Central Do Brasil (Central Bank of Brazil); Spencer Mahony, Deputy Trade Commissioner for Latin America and Caribbean at the Department of International Trade; Edlayne Altheman Burr, Managing Director of Financial Services at Accenture; Daniel Globerson, Head of Open Banking at Natwest Bank; Imran Gulamhuseinwala, Trustee at Open Banking Implementation Entity; Gavin Littlejohn, Chairman at FDATA; Ralph Bragg, Founder and CTO at RAiDiAM; Mariana Cunha e Melo, Strategy and Regulation Director at Quanto. Aristides Andrade Cavalcante Neto, Deputy Head of IT and Chief of Cybersecurity and Technological Innovation Office at Banco Central Do Brasil, said, “The implementation of each stage of Open Banking in Brazil is not an end in itself, but the beginning of a deep transformation of how financial services are conceived and delivered to consumers. We’ve learned a lot from other jurisdictions and especially throughout our implementation journey, making adjustments when necessary. In this way, we expect to continue contributing to this theme, together with other institutions such as the OBE.” Spencer Mahony, Deputy Trade Commissioner for Latin America and Caribbean at the Department of International Trade Spencer Mahony, Deputy Trade Commissioner for Latin America and Caribbean at the Department of International Trade said, “We are delighted to see this initiative that will help deepen Open Banking cooperation between the UK and Brazil. As part of the 4th Economic and Financial Dialogue (EFD) held in December 2020, the UK and Brazil committed to enhance collaboration on issues related to the development of fintechs and innovative banking solutions in Brazilian and British markets. The UK has reinforced its commitment to this financial ecosystem through regulatory workshops with the Brazilian government, and we look forward to working together as both our countries apply the principles of open banking to other sectors, including insurance.”   Edlayne Altheman Burr, Managing Director of Financial Services at Accenture Edlayne Altheman Burr, Managing Director of Financial Services at Accenture, said, “Open Banking will position Brazil as one of the most innovative financial ecosystems in the world. When comparing to other countries currently engaging in Open Banking, we will have the largest scope of financial data shared in the globe. New business models leveraging data are expected to emerge, enabling better customer understanding and insights, which implicates in more efficiency in product offerings and opportunities for developing new services tailored to customer needs.”   Gavin Littlejohn, Executive Chairman at FDATA Gavin Littlejohn, Executive Chairman at FDATA said, “Open Banking Excellence is a community platform which has usefully connected stakeholders, distributed ideas and generated interesting conversations. As an open banking and open finance-focused global trade association, FDATA looks forward to again working with OBE as it commences operations in Brazil, which is at an exciting stage in its evolution.”   Ralph Bragg, Founder and CTO of RAiDiAM Ralph Bragg, Founder and CTO of RAiDiAM, said, “We are proud to have worked alongside the Banco Central do Brasil in providing the technology and standards that have enabled Open Banking in the country. We’ve learned and shared many lessons from the UK; helping accelerate the implementation process. This means it has been possible to deliver an interoperable, distributed data sharing ecosystem that supports safe and secure customer data sharing and payment initiation, in less than 9 months. The next step will be for participants to develop new propositions and capabilities to drive widespread adoption. The community collaboration and visibility provided by OBE, plus the access it gives to world-class experts, will enable the other important parts of Brazil’s Open Banking ecosystem to develop rapidly.” OBE Brazil will have an independent advisory board, formed by key stakeholders within Open Banking, coming from banks, regulatory bodies, fintechs, consulting and technology companies. This council will work to engage the community for the adoption of open systems, in addition to defining general objectives, operational structures and seeking funding sources for the development of the sector in Brazil. Author

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