Peru’s SBS Confirms Six License Applications as Prex Leads Process and Open Banking Sets Two-Year Goal

Overview

• SBS superintendent Sergio Espinosa said six formal applications to enter Peru’s financial system are now under review.
• Uruguayan wallet Prex is the most advanced applicant after receiving a license of organization and must prove operational capacity and pass risk and systems reviews to obtain authorization to operate.
• The watchdog is drafting clearer, type-specific licensing rules and timelines to give prospective entrants greater predictability.
• A seven-person internal team has begun Peru’s open banking workplan with a first-stage implementation target of two years, drawing on learnings from engagements in London and planned activities with the BCRP in India.
• SBS updated its public warning about entities and individuals that solicit deposits without authorization and directed consumers to its blacklist and reporting channels.