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Colombia’s Open Finance Draft Decree: Driving Inclusion, Trust & Interoperability

Colombia has published an Open Finance draft decree that marks a shift from a voluntary model to a mandatory, regulated ecosystem. This white paper breaks down the core elements of the proposed framework – from data access and participant roles to trust infrastructure and regulatory oversight – and explains why Colombia’s approach is being closely watched across Latin America and beyond.

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Turning Policy into Practice. A New Regulatory Blueprint to Make Open Finance in Colombia a Reality

Colombia is ushering in a new era of Open Finance.  A recently published draft decree to amend Decree 2555 of 2010, establishing a mandatory Open Finance System, is transforming what began as a voluntary initiative into a comprehensive regulatory framework. This move – grounded in Colombia’s National Development Plan (Ley 2294 de 2023) – aims to promote financial inclusion, competition and innovation through secure data-sharing, while deploying robust mechanisms for trust, interoperability and oversight. In this article, we summarise the decree’s key provisions and obligations and explore how its emphasis on inclusion, access to data by supervised and non-supervised entities and solid trust architecture for a robust framework reflects Colombia’s leadership in the Open Finance journey.

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