Participants call on British Columbia to postpone phase 3 of open banking

The banks want to postpone phase 3 of open banking. The request has been sent to BC. Photo: Marcello Casal Jr / Agência Brasil

The banks and fintechs that make up the Open Banking Deliberative Council have asked the Central Bank to postpone the start of phase 3, scheduled for Monday (30). The assessment is that the timetable would be “unachievable”. According to the institutions, the timetable foreseen by the BC is very tight and the participants would not be prepared for this advance in the midst of the defect corrections of phase 2, implemented from August 13 (also after a postponement).

According to information from the newspaper Valor Econômico, the request made by letter to the President of British Columbia, Roberto Campos Neto, was for ten weeks. The Central Bank did not come forward until the time of publication.

Phase 3 of open banking provides for the integration of payment initiation services, with the possibility of making purchases and transfers outside the banking environment (application or internet banking). Pix will be the first to be rewarded, followed by other formats in the following months, with the insertion of TEDs, bank slips and debits to an account.

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