New regulations have been recently issued pursuant to Mexico’s Law to Regulate Financial Technology Institutions, published March 10, 2018. These new regulations apply to a significant group of financial entities and require the establishment of application programming interfaces (“APIs”) to enable connectivity, access, and sharing of certain data.

All financial entities explicitly mentioned by the Fintech Law are subject to data sharing requirements, as are money transmitters, credit reporting agencies, payment switches regulated by the Law for the Transparency and Ordering of Financial Services, and financial technology institutions (i.e., crowdfunding and e-money companies (wallets)), as well as companies operating under a sandbox approval, as provided by the Law (the “Regulated Entities”).

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