Colombia has established a comprehensive regulatory framework for open finance through Decree 1297 of 2022, Law 2294 of 2023, and External Circular 004 of 2024, defining technical standards, security guidelines, and interoperability requirements. Supervised entities must disclose financial data under SFC standards, while fintechs and other companies can consume this data with consent to develop new services. This represents a significant regulatory shift toward open banking and API-based financial services.
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