Chile's CMF Publishes Open Finance Technical Annex, Fixing the Interoperability Standard
The CMF amended its Open Finance rule on June 1, 2026, adding Annex 3 and a developer portal. The specs harden how banks and fintechs will share data under the Fintech Act.
What Changed
On June 1, 2026, Chile's Comisión para el Mercado Financiero (CMF) issued an amendment to General Rule (Norma de Carácter General) No. 514, the regulation that operationalizes the Open Finance System (Sistema de Finanzas Abiertas) created under the Fintech Act, Law No. 21,521. The centerpiece is a new Annex No. 3 containing the technical specifications for interoperability across the system, published alongside a Developers' Portal. The annex defines how account information, payment-initiation, and content-management APIs must behave between data holders and data recipients. It moves the regime from high-level principles toward enforceable, machine-readable standards ahead of the system's phased go-live scheduled for July 2027.
Who It Affects
Banks, payment institutions, non-bank card issuers, cooperatives, and licensed fintechs that will act as information providers or account-information and payment-initiation service providers under the Fintech Act. Aggregators and open-finance intermediaries building against Chilean APIs are equally in scope. Because the annex fixes the interoperability contract, every participant will now be measured against a single technical bar rather than bespoke integrations, and identity and consent handling become explicit engineering requirements rather than aspirations.
What to Do
Map your data-holder or data-recipient role against Annex No. 3 and begin building against the Developers' Portal now, not at the July 2027 deadline. Confirm your consent, authentication, and customer-identity flows satisfy the specification, since API access hinges on verifying who is authorizing data sharing. Stand up an audit trail that captures each consent grant and revocation. Multi-method, audit-ready customer verification underpins every open-finance data exchange, so treat identity assurance as core infrastructure, not an afterthought.
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