Open Finance in Latin America and the Caribbean: Great Opportunities, Large Challenges

Open finance is a transformational concept that revolutionizes financial data and services. This document provides a comprehensive overview of open finance in Latin America and the Caribbean (LAC) region and its potential impact on the financial industry. It is a valuable resource for those looking to understand open finance better and its implications for consumers, financial institutions, and policymakers. 

The subsequent sections of this study aim to explore the concepts and principles, the ecosystems, opportunities and risks; open finance in select countries around the globe as a point of comparison; and the development of open finance in LAC. It also presents best practices and recommendations for implementation of open finance.