Open Finance, in the words of the Central Bank, is the possibility for customers of financial products and services to allow the sharing of their information between different institutions authorized by the Central Bank and the movement of their bank accounts from different platforms and not only through the application or website of the bank, in a secure, fast and convenient way.
For sharing, it is necessary to obtain the client's consent:
(i) be asked for in clear, objective and appropriate language;
(ii) refer to specific purposes;
(iii) have a validity period compatible with the purposes, limited to twelve months;
(iv) discriminate the data transmitting institution or account holder, as the case may be;
(v) discriminate the data or services that will be the object of sharing;
and (vi) include the customer's identification.
It is forbidden to obtain the client's consent:
(i) by means of an adhesion contract;
(ii) by means of a form with a pre-filled acceptance option; or
(iii) presumed, without active manifestation by the client.
