FDATA Latin America aims for the development of Open Finance in the region as a force to improve financial inclusion, unlock innovative business models, boost competition and empower customers in their financial journey.
We work with governments, regulatory authorities and the financial services industry to enshrine the rights of customers to share their financial data with regulated organisations of their choosing.
What we are doing in South America
FDATA has played an active role in the South American region, particularly in Brazil, where the local Open Finance model is currently under construction. We’ve been participating in the public consultations put out by the regulator and supporting our members in different working groups, providing our expertise and bringing benchmarks and best practices from other parts of the world, in order to help in the development of the regulatory framework.
Ludmila Volochen, Latin America Director at FDATA, is a lawyer with over 16 years of professional experience. After more than 9 years serving in key roles at the Ministry of Justice, Ministry of Finance, and as legal affairs advisor to the Presidency of Brazil, she moved into the private sector as a government relations supervisor for Mercado Livre, the biggest e-commerce in Latin America, where she led the Brazilian development of the group’s fintech, Mercado Pago. During her tenure there, she chaired one of the governance working groups for the implementation of Open Finance in Brazil.
With her wealth of experience in policy development for regulated markets and payment systems, she became a senior policy specialist for iFood, a leading food delivery tech company in Brazil. Later she was invited to become head of public policy for the Brazilian Startups Association (Abstartups), with over 8,000 members in Brazil.
In addition to her impressive legal and tech background, she is also a published author, having co-authored the chapter on anti-money laundering and counter-terrorism financing in the highly regarded “Manual de Compliance.” Now in its third edition, this book has been highly sought after and completely sold out. Her contributions to this text have solidified her position as a leading expert in compliance and regulatory affairs, making her an invaluable asset to FDATA’s team.
What we do for members
We lobby government, regulators, policy makers and key stakeholders to support the benefits Open Banking and Finance brings to end consumers.
We represent our members’ views, giving them a collective seat at the industry negotiation table. We hold seats on a number of policy working groups, expert advisory groups, and task forces related to Open Banking. In these various forums, we ensure the risks and impacts to fintechs are considered, and that a collective position on the solution to these matters is presented to decision makers. We provide collective bargaining and negotiating power that individual firms cannot achieve on their own.
We also provide direct access and engagement to these decision makers for our members, with regular opportunities to speak directly to policy makers in industry roundtables we host.
FDATA gives members forward intelligence on key policy matters, changes, and trends. Our members can participate directly in various working groups, who serve to shape FDATA’s policy positions and recommendations.
We offer our member firms individual consultations on various policy, market positioning, and market expansion strategies. This service extends to introductions to potential partners across the ecosystem, from direct connections to opportunities to socialise with other ecosystem players at our hosted events and industry roundtables.