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No Open Banking

A South American country with an eye on Open Banking.

In 2023, 90% of Uruguayans had access to the internet.

No law or regulation has been approved yet. However, throughout 2021, the Central Bank of Uruguay convened policy-makers, IT companies, startups, Fintech companies, academics, traditional large banks, and other stakeholders of the wider financial services sector to participate in different working groups to share perspectives and insights on where they think Open Banking is heading.

According to The Global Findex Database, 74% of Uruguayan adults had bank accounts in 2021, leaving 26% unbanked. 

In 2021, 63 Fintech companies operated in Uruguay. 

ICT and data scientist skills are among the skills in high demand in Uruguay.

Uruguay ranked 54th out of 134 countries in Wiley’s Digital Skills Global Index 2021.