Colombia SFC adjusts Open Finance deadlines

Colombia’s Financial Superintendency published its Basic Financial Circular through External Circular 004 of 2026. At the same time, the Open Finance rollout schedule remained under review and, according to sector coverage, may now include a six-month extension to the regulatory deadlines assigned to the agency for deploying the framework.

What changed in the Open Finance roadmap?

The regulatory discussion focused on the implementation calendar. According to Valora Analitik, the Superintendency proposed extending by six months the deadlines under its control for enabling Open Finance, with the stated goal of strengthening institutional capabilities, coordinating technical issues with industry, and ensuring a gradual, interoperable, and secure rollout.

That timeline also received comments through Sept. 15, 2026, according to Ser Colombiano. By the end of that consultation period, the market was watching for the final version of the schedule, although the available material does not identify the adopted final text.

What observations did the proposal receive?

The draft timeline drew close to 180 comments from industry, according to Valora Analitik. In the available excerpt, the publication does not break down the feedback by entity or specify how those comments were reflected in the final version.

Public debate also highlighted several implementation risks. FM cited data quality and management, consumer protection, cybersecurity, fraud, dependence on third parties, analytics and artificial intelligence models, as well as operational and business continuity risk.

What does the new framework require from entities?

Technical compliance calls for access controls, security requirements, and API lifecycle management, along with identification mechanisms, integration monitoring, and third-party controls, according to Sensedia in Ser Colombiano. That technical layer was tied to the rollout of Open Finance in Colombia’s financial system.

El Tiempo also reported that the regulation does not allow charging for financial information itself, although providers may recover infrastructure costs. In parallel, an El Colombiano report on the cooperative sector said solidarity-sector entities would face technology, governance, and cybersecurity requirements similar to those of banks and fintechs, but with different capacities and adaptation timelines.