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The Superintendence of Banking Institutions (Sudeban) has issued a circular stipulating the pre-account opening and account opening procedures and the acceptance procedures for other digital financial products and services and electronic contracts.
In Circular No. 03678 dated June 13, the regulator authorized banking entities to pre-open accounts and other financial products on digital platforms with prior authorization from the institution, subject to the requirements for launching new products and services.
Sudeban requires specific technical requirements, such as identification of technical risks associated with a financial service or product; risk analysis, observing the probability, impact and level of occurrence of identified risks; establishment of control measures to mitigate identified risks; characteristics of technical, security and telecommunication equipment supporting the product or service; systems, applications or modules supporting it; information security mechanisms and operational processes of the product or service, etc.
The pre-opening of an account will be done through a digital data record, followed by a request, which must be accompanied by the requirements, precautions and documents necessary for the opening of an account for natural and legal persons.
Active bank customers can open a new account or access other digital products and services of the same institution completely online, directly and instantly, simply by updating the data on their ID card.
Regulated entities must ensure that customer data that exists in the physical environment exactly matches the data stored on the digital platform.
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