Our partner Tiago Severo Gomes commented to Metrópoles on the proposal under study at the Central Bank of Brazil to restrict Pix access for banks and fintechs with cybersecurity weaknesses.
The context: over the last 12 months, losses linked to cyber fraud exceeded R$ 1.5 billion, with criminals exploiting the weakest links in the chain, technology providers and smaller participants, not the large banks.
The Central Bank's response shifts the focus from transaction behavior to the structure of the institutions themselves. In Tiago's view, the discussion marks a new phase: Pix is no longer just an efficient means of payment but has become critical infrastructure for the Brazilian economy.
In practice: • The Central Bank is considering restricting or modulating access for institutions that do not demonstrate minimum standards of cybersecurity, technology governance and third-party management, with preventive action faster than current administrative proceedings.
• For banks and fintechs, the impact is significant: security, technology, audit, incident response and vendor control become matters of regulatory survival.
• For consumers, the trend is positive, because it raises the protection of the system as a whole.
As Tiago sums up: calibration will be essential to avoid market concentration and preserve the innovation that made Pix a success story in Brazil.
Link: https://lnkd.in/dA_-EPDh
