Driven by the private sector and technological innovation, the Open Finance model is advancing in the country without a comprehensive regulatory framework, but with strong potential to transform access to credit, financial inclusion, and user empowerment.
Argentina and Open Banking
The state of Open Finance in Argentina in 2025 shows significant progress, mainly driven by the private sector, although it still lacks a specific regulation that formally structures it.
Despite the absence of a comprehensive legal framework, several financial institutions and fintechs have adopted Open Finance practices. For example, Banco Industrial (BIND) has implemented an “API Bank” that facilitates the integration of financial services, allowing users to access investments, loans, and payments more efficiently.
In addition, initiatives such as Transferencias 3.0 and QR code interoperability have improved payment digitization and financial inclusion across the country.
However, despite delays — not unique to Argentina — local financial regulators have expressed interest in advancing toward this model. During the Argentine Fintech Chamber Forum in October 2024, representatives from the Central Bank, the National Securities Commission, and the Financial Intelligence Unit agreed on the need to open the system to new technologies and business models, including Open Finance.
According to Iupana’s regulatory index, Argentina is at an intermediate stage of regulatory development compared to other countries in the region such as Brazil and Mexico, which already have more advanced regulatory frameworks.
One of the main challenges for the effective implementation of Open Finance in Argentina is data protection and user privacy. The lack of technical standards and the need for more mature technology are slowing down a process that now seems irreversible.
The adoption of Open Finance presents significant opportunities to improve access to credit, encourage competition, and promote financial inclusion in the country.
Some local policy indicators seem to favor a faster implementation in the near future.
Open Finance is transforming the way people manage their money in Argentina, offering concrete everyday benefits. Below are some of its main advantages:
Expanded access to credit
Traditionally, obtaining credit has relied heavily on banking and employment history. With Open Finance, financial institutions can evaluate a broader range of data, such as consumption patterns and utility payments, allowing individuals without a traditional credit history to access financing.
For example, Ualá uses transactional data to offer personalized microloans, expanding access to credit to previously excluded segments.
Centralized financial management
Banking aggregation allows users to view all their accounts, cards, and investments in a single app, making personal finance management easier. This unified view helps people make informed decisions and identify savings or investment opportunities.
Greater competition and service personalization
Allowing different entities to access financial data (with user consent) fosters competition among financial service providers. This results in more personalized offers and better terms for consumers.
Fast and integrated transfers
Initiatives like instant “pull” transfers allow users to move funds between accounts and digital wallets quickly and easily, improving the user experience in daily transactions.
Control and decision-making
Open Finance gives users control over their financial data, enabling them to decide with whom and for what purpose to share it. This promotes greater transparency and trust in the financial system.
In summary
Open Finance in Argentina is moving toward a more inclusive, transparent, and user-centered financial ecosystem, offering tools that make money management easier and expand access to financial services for everyone.
The CEO and Founder of N5 has pointed to a structural problem in Latin America’s banking sector that inspires these very initiatives: a large portion of the population is excluded from access to credit, which is one of the main engines of progress in the most developed countries.
And this objective, as long as it continues to advance, may achieve a level of inclusion that even the most expensive government programs have failed to deliver. Progress will become a natural outcome of bringing millions of people into the financial system.
In fact, Julián Colombo has emphasized in several press meetings that AI will be the driver of this previously unimaginable revolution. The productivity leap it is already enabling — and will continue to generate — will automate and accelerate market access to such a degree that we can’t yet fathom the scale of the financial democratization that is taking shape.
According to Colombo, the developments happening at N5 — which accelerate by the minute — represent a major contribution to society, provided they are carried out based on non-negotiable ethical values. Rooted in foundational humanism, this approach is not advancing against humanity, but rather, it arrives to facilitate human work and promote the most dignified aspects of life.
