The year of 2023 revealed a promising horizon in the universe of financial technology, introducing opportunities in various fields. Open Finance, under the regulation of the Federal Reserve, has conquered noteworthy milestones in the first couple of years, with 22 million unique consents and 15 million participating consumers, consolidating its position as a global benchmark.
In addition to its success in the financial field, Open Finance has witness significant advances in other spheres throughout 2023, following principles of transparency and collaboration. In the electrical sector, “Open Energy”, proposed to Aneel, seeks to create an experimental environment for the sharing of electrical energy consumer data, boosting interoperability and transparency.
In the healthcare field, the Department of Health and Human Services has launched “Open Health,” to focus on sensitive data related to this subject. This project seeks to stimulate the competition within the healthcare market and to improve access to acquiring these services, strengthening the decentralization of data and prioritizing user consent.
The celebration of the second anniversary of Open Finance in February of 2023 highlighted Brazil as a global leader, with 800 participating institutions and 45 products and services offered to clients.
Brazil’s open paradigms’ transformation journey advances, creating an environment conducive to growth and success. The country is well-positioned to lead future initiatives, even surpassing pioneers, such as the United Kingdom. The year of 2023 has predicted a future full of success in the opening initiatives.
Unveiling Celcoin’s cel_open
As an innovating force with its Open Finance ecosystem, Celcoin launches cel_open. This group of solutions seeks to integrate itself to users’ various needs, providing an innovative, secure, efficient, and customized banking experience. Learn more:
Transforming financial experiences
At the core of cel_open is the transformative financial experience. Celcoin looks to offer users a more efficient and customized journey by simplifying processes and saving time.
cel_open users have the convenience of accessing consolidated bank statements in a single place, including information from different financial institutions. Expenditure control becomes more precise, allowing a broad vision of transactions, including data from bills and credit cards’ available credit.
Furthermore, cel_open allows users to have control over their financial data. The possibility of sharing this data among institutions opens new perspectives and customized conditions, always offering total security and asking for the users’ consent.
Banking services at each business’ pace
When it comes to banking services, cel_open provides faster, more secure, and more convenient payments, which are even integrated to Pix. Drawn out bureaucratic processes are substituted by a simplified experience, eliminating the need of filling out long forms or repeating information.
The technology behind cel_open
cel_open innovating infrastructure is propelled by advanced technologies, such as Open Keys, which make the collection of data easier, as well as BrickBank, a group of solutions developed to facilitate the rapid entry of financial institutions into the Open Finance universe.
Unlocked possibilities
cel_open grants access to a series of possibilities. One of them is within Cash-in, which allows the utilization of balances from other institutions through digital wallets or asset management. The proposal creates an innovative experience that focuses on security and usability.
Regarding Utilities, balances can be used for paying off bills, providing an integrated and secure experience. With respect to Cash-out, which was developed exclusively for marketplaces, cel_open allows the possibility of paying off e-commerce purchases with minimal friction and chargeback risks.
Onboarding and Know Your Customer (KYC) are made easy with the utilization of balances from other institutions in order to verify the identity of the customer during their first contribution, guaranteeing security and regulatory compliance.
Licenses to deal with bureaucracies
Operating with Celcoin bank licenses, cel_open simplifies the regulatory aspect, allowing clients to focus on their core business and on their business’ growth. Celcoin takes on the responsibility for the bureaucracy, providing a journey free from complications.
Celcoin’s cel_open goes beyond being an Open Finance platform; it is an entryway to a universe of possibilities to boost businesses of all sizes and fields of operation.Click here to know even more about cel_open and other cel_bricks solutions from Celcoin.