Open Finance for agriculture: proposal advances and could improve credit and rural insurance conditions.

The Open Finance information sharing system is not new to the banking market and has been in operation since 2022. Now, deputies from the Agriculture, Livestock, Supply and Rural Development Committee (CAPADR) approved, this Wednesday (06), a proposal that creates a kind of Open Finance for agriculture. The measure can reduce the operational costs of rural credit and bring greater efficiency to risk analysis in the contracting of financing and in the adherence to rural insurance. Bill 3.123/2025, authored by the Institutional Coordinator of the Parliamentary Agricultural Front (FPA), Deputy Alceu Moreira (MDB-RS), creates the National Rural Credit Risk Management System (SNGRCR). In practice, it is a platform that brings together information from different databases and that financial institutions, insurance companies, cooperatives and agricultural companies will be able to access in a simplified way. “The establishment of the SNGRCR could reduce default rates and claims by making credit decisions more informed, lowering operational costs for banks and insurance companies, and expanding access to credit on a fairer and more sustainable basis,” pointed out the rapporteur of the text in the collegiate body and vice-president of the FPA for the Central-West Region, Deputy Marussa Boldrin (Republicanos-GO). The report was read at CAPADR by the coordinator of the FPA's Environment Committee, Deputy Rafael Pezenti (MDB-SC). The approved matter brings improvements in relation to the initial text. In the substitute, the parliamentarian lists the databases that should integrate the sharing system and also foresees that others may be included later, according to regulation: Economic Activity Registry of Individuals (CAEPF); National Registry of Rural Properties (CNIR); National Registry of Family Farming (CAF); Agricultural Management Platform (PGA/BDU – Mapa); Guarantee-Harvest Management System (SGGS); The text outlines the following systems: Rural Insurance Subsidy Information System (SISSER); National Registry System for Rural Producers and Other Agents (SICAN); Rural Credit and Proagro Operations System (Sicor); Land Management System (SIGEF – Incra); National Territorial Information Management System (SINTER); Rural Environmental Registry System (Sicar); National Rural Registry System (SNCR – Incra); Credit Information System (SCR); and Operations Registration System (SRO – Suspep). The text stipulates that information sharing will be automatic. However, rural producers may opt out of sharing with institutions. This mechanism must be linked to the “gov.br” account and made available in a simple and accessible way. Furthermore, the system's information can only be accessed by authorized agents and the rural producers themselves. The text also determines that there will be no fees charged and that data processing must comply with the rules established in the General Data Protection Law (LGPD). The bill also includes provisions establishing sanctions and penalties in case of data leaks, loss, destruction, unauthorized access, or misuse. It also amends Law No. 13.709/2018, the LGPD (Brazilian General Data Protection Law), to allow data processing for risk analysis in rural credit, rural insurance, and rural reinsurance operations. Another point included in the substitute bill is the possibility for the federal government to establish differentiated requirements for data sharing when dealing with family farmers, indigenous communities, quilombola communities, and traditional communities. The deadline for this legislation to come into effect is 180 days after its publication in the Official Gazette of the Union. In the Chamber of Deputies, the bill still needs to pass through the Finance and Taxation Committee and the Constitution, Justice and Citizenship Committee (CCJC). If it advances through these committees, the proposal will go to the Senate and, subsequently, to the President for approval, if there are no changes. 

This text was translated by machine from Brazilian Portuguese.