Regulatory Alerts2020-03-06 | Circular 2/2020Added
Circular 2/2020 — Standardized Application Programming Interfaces under Article 76 of the Law for Regulating Financial Technology Institutions
This circular establishes general provisions for Credit Information Societies and Clearing Houses regarding the exchange of data via standardized Application Programming Interfaces (APIs) under Article 76 of the Law for Regulating Financial Technology Institutions. It mandates prior authorization from the Bank of Mexico for establishing APIs and accessing data, defines interoperability standards, and requires the registration of equitable and transparent fees. The regulation applies to Credit Information Societies, Clearing Houses, and Recognized Entities, setting specific timelines for authorization requests and outlining requirements for interconnection contracts and data security.
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