Colombia Financial Services

In April 2026, Colombia issued Decree 0368, making Open Finance mandatory for financial institutions supervised by the Financial Superintendence of Colombia (SFC), creating immediate demand for U.S. solutions in API management, cybersecurity, digital identity, RegTech, and data analytics.

Decree 0368 amends Colombia’s main financial regulation (Decree 2555 of 2010) and requires supervised entities – including banks, trust companies, insurers, pension fund managers, and other licensed institutions – to provide standardized, secure API access to customer-authorized financial data, replacing the previous voluntary framework. The SFC is expected to roll out detailed technical standards and phased implementation timelines over the coming months, with transition periods that may extend up to 30 months depending on the type of institution and service. This will compel Colombian financial institutions to upgrade digital architectures, strengthen security and consent management, and invest in data governance and analytics capabilities.

For U.S. exporters, the main opportunities lie in compliance-driven infrastructure and new data-enabled business models. Banks and other financial institutions will need tools for API lifecycle management, strong customer authentication, fraud and risk monitoring, and regulatory reporting, as well as platforms that can leverage standardized data for credit scoring, embedded finance, and personalized services. Mid-sized and specialized institutions that lack in-house development capacity may be particularly receptive to proven, modular solutions from U.S. providers that already support open banking and open finance regimes in other markets.

For more information on opportunities in the Colombian financial sector, please contact Lina Contreras.