Bradesco announced this Wednesday (5th) that it started to make available in its app a new functionality for transactions with Pix via open finance.
From now on, the bank’s customer will be able to make transfers through Pix with the option of debiting the transaction amount from their Bradesco account or from any other bank in which they are also account holders.
To carry out the operation, the customer must access the Pix area in the Bradesco app and choose to debit the amount from the account held at another institution.
It will then be directed to the other bank’s environment to authenticate and confirm the transaction. The customer will give his authorization to each transaction he makes.
According to Bradesco, it is the first initiative in the local market of this type, which was made possible thanks to a tool called “payment initiator”, created in October 2020 to operate within the open banking model, allowing authorized companies to intermediate the transfer. of funds (including payments) between different bank accounts.
The release of the new functionality will occur gradually from today to the bank’s individual customers.
“The implementation of the new functionality will provide even more convenience to our customers to carry out their transfers via Pix. The novelty is another attraction that encourages adherence to open finance”, said Antonio Daissuke, current account and cash management director ( money management) of Bradesco, in a note.
Open finance is an evolution of open banking, a project that was implemented by the BC in early 2021, which works as a kind of open financial system, which allows financial institutions to share information from their account holders with others.
The model gives consumers the possibility to authorize or not for banks and fintechs to consult their banking history and other information, which was previously private and difficult to access even for the user himself.
Sharing only takes place with the client’s authorization, which also defines which data can be shared and with whom. Also, the permission can be suspended at any time.
Open finance, which came into effect at the end of last year, provides for the integration of non-banking services into the model, such as pension plans, insurance, foreign exchange and investments.
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