Brazil: started with 2 scopes. Now hundreds. Same infrastructure.
The Central Bank of Brazil built the open finance trust infrastructure once. It started with two data-sharing scopes. Today it supports hundreds — across banking, insurance, and beyond — serving 159 banks with 100B+ API calls and zero security incidents. That is what building once looks like.
How Brazil built once and expanded to the world's largest open finance ecosystem
Started with 2 data-sharing scopes. Now has hundreds. Expanded from banking to insurance. Same infrastructure. That is what building once looks like.
The Challenge
In 2020, the Central Bank of Brazil mandated Open Finance — requiring the country's entire financial system to share data securely through APIs. The Central Bank built the foundations once. Every expansion since — new scopes, new sectors, new participant types — has been additive. This meant:
- 159 banks and data providers needed to be onboarded
- 173 data recipients (fintechs, aggregators) needed to be accredited
- Every participant needed governed identity, certificates, and metadata
- The system needed to handle billions of API calls monthly
- Zero security incidents was the only acceptable threshold
- The ecosystem had to be operational within months, not years
The Solution
The Central Bank of Brazil selected Raidiam Connect as the trust infrastructure for Open Finance Brasil.
Raidiam Connect provided:
- A central directory and registration authority for all 940+ institutions
- HSM-backed PKI for certificate issuance, rotation, and revocation
- Automated participant onboarding with conformance gates via Raidiam Assure
- Signed metadata and trust chain publication for every participant
- Real-time discovery so any accredited participant could find and connect to any provider
- Shared signals for certificate events, metadata changes, and lifecycle transitions
- A single operational dashboard for the Central Bank to govern the entire ecosystem
- Mock Bank and Mock TPP reference implementations via Raidiam Enable — accelerating participant testing and ecosystem readiness
- Production Validation Tools delivered through Raidiam Enable — verifying API standardisation across all participants in the live production environment
Raidiam Auth provides the central administration authentication service for all services offered centrally by the Central Bank of Brazil — certified to FAPI 2.0. Participating banks issue their own tokens using their own authorisation servers.
The Numbers
What Participating Banks Experienced
For the 159 banks in Brazil's open finance ecosystem, Raidiam's infrastructure meant:
- Registration and onboarding in days, not months — self-service portal with automated identity verification, legal agreements via DocuSign, and conformance testing built into the pipeline
- No bilateral integration — each bank implemented once against the federation. Discovery of counterparties was automatic. No manual exchange of endpoints, keys, or metadata.
- Certificates managed for them — HSM-backed issuance, automated rotation, OCSP validation. No bank needed its own PKI team for ecosystem participation.
- Conformance proven, not claimed — Raidiam Assure tested every bank’s implementation before go-live. Continuous monitoring caught regressions before they reached production.
The result: banks that would have spent 6–12 months on bilateral integration were live in weeks. The infrastructure handled the trust. The banks focused on their products.
The Result
Open Finance Brasil is now the world's largest open finance ecosystem by participant count and API volume. It processes over 100 billion API calls per year with zero security incidents.
The same platform now also powers Open Insurance Brasil (42 providers, 42 data recipients, 1.18 million monthly API calls) — demonstrating that the architecture extends beyond banking to any regulated data-sharing ecosystem. In 2024, Open Finance Brasil was recognised with the Best Open Finance Application award at the Open Banking Expo. From 2 initial data-sharing scopes to hundreds, from banking to insurance, every expansion was additive. No rebuild. No re-platform.
The Central Bank of Brazil has full operational visibility across every participant, certificate, conformance status, and trust relationship in the ecosystem — from one Raidiam Connect dashboard.
Products used
From mandate to 100 billion API calls
Central Bank of Brazil mandates Open Finance
Raidiam selected as trust infrastructure provider
Phase 1: Account data sharing launches with 159 banks
Phase 2: Payment initiation and credit data
Open Insurance Brasil launches on the same infrastructure
Ecosystem passes 50 billion annual API calls
100 billion+ API calls per year. 940+ institutions. Zero incidents.
Open Banking Expo Awards 2024 Winner
The ecosystem control plane powering the world's largest digital economies
Brazil Open Finance
- —940+ institutions
- —100B+ API calls/year
Central Bank of Brazil
Brazil Open Insurance
- —42 providers
- —1.18M monthly API calls
Superintendência de Seguros Privados
Australia ConnectID
- —Big Four banks
- —10M+ customers
Australian Payments Plus
NZ Fraud Data Sharing
- —NZBA member banks
- —Fraud prevention network
New Zealand Banking Association
UAE Open Finance
- —Central Bank of UAE
- —National ecosystem
Central Bank of UAE
UK Smart Data
- —Cross-sector trust
- —Open Banking origins
UK Government / FCA
Our clients include central banks, payment scheme operators, and globally systemically important financial institutions. We don't build point solutions. We operate the ecosystem control plane that the world's financial system depends on. They built once. They keep expanding.
Raidiam is a founding contributor to OpenID Federation and actively shapes the standards that define how digital trust ecosystems work globally. OpenID Federation is the standard. Raidiam Connect is the ecosystem control plane that makes it work at national scale — and lets it expand to whatever comes next.
Built on 10+ years of battle-tested standards
Where will your ecosystem take you?
Whether you're a regulator building a national digital economy, an enterprise platformising across brands and clouds, or a bank that wants to stop rebuilding trust for every new use case — there's a next step.
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See the Proof
Brazil started with 2 data-sharing scopes. Today it has hundreds — all on the same infrastructure
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