IDB Launches APIBox to Accelerate Open Finance Innovation in Latin America

APIBox is a technology sandbox that enables stakeholders to test and validate open finance standards and business models in a secure and controlled environment.

At the FinnLAC Forum 2025 in Miami, the Inter-American Development Bank (IDB) unveiled APIBox: Technology Sandbox for Open Finance—a powerful new open-source platform designed to help governments, financial institutions, and fintech developers experiment, collaborate, and innovate in the rapidly growing open finance ecosystem of Latin America and the Caribbean.

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What is APIBox?

APIBox is a technology sandbox that enables stakeholders to test and validate open finance standards and business models in a secure and controlled environment. Built using open-source technologies, APIBox allows users to simulate and explore how standardized Application Programming Interfaces (APIs) can be implemented in real-world scenarios—supporting use cases across:

• Banking

• Payments

• Investments

• Insurance

These APIs are central to open finance, as they enable consumers to securely share financial data with third-party providers, unlocking new services and innovations tailored to their needs.

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Designed for Collaboration and Inclusivity

Developed in collaboration with Minsait, an Indra Group company, and supported by the Grand Duchy of Luxembourg, APIBox aims to lower barriers to adoption by providing:

• A comprehensive API documentation library

• Synthetic datasets to simulate real-world transactions

• Compliance testing tools for technical standards

• Visual dashboards for monitoring performance and validations

“We aim to simplify the adoption of open finance by lowering the learning curve and encouraging the use of shared standards that safeguard security, enable interoperability, and protect personal data,” said Anderson Caputo Silva, Chief of the IDB’s Connectivity, Markets and Finance Division.

“Our goal is to build a more inclusive and transparent financial system across Latin America and the Caribbean.”

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Supporting Financial Inclusion and Innovation

APIBox is part of the IDB’s broader strategy to develop digital public infrastructure for financial ecosystems across the region. The platform enables:

• Regulators to evaluate new standards and frameworks

• Financial institutions to pilot digital products before market deployment

• Developers and fintechs to build and test solutions using realistic data

• Governments to foster responsible innovation aligned with national strategies

By offering a safe testing space, APIBox can significantly accelerate open finance adoption, supporting inclusive access to financial services for underserved populations and boosting digital transformation across the region.

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Early Implementation: Chile Leads the Way

The Financial Market Commission of Chile has become the first financial authority to implement APIBox, working closely with the IDB to tailor the sandbox to its national open finance roadmap. This marks a major milestone in regional regulatory innovation and demonstrates how cross-sector partnerships can bring tangible results.

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Building the Future of Finance

APIBox is a strategic addition to the IDB’s Digital Finance agenda, aligning with global best practices for:

• Open banking and open finance frameworks

• API governance and standardization

• Data protection and consumer rights

• Sustainable and inclusive fintech ecosystems

Those interested in deploying APIBox in their jurisdiction or institution are encouraged to contact the IDB’s Connectivity, Markets and Finance Division.

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Why It Matters

Latin America and the Caribbean have seen exponential growth in fintech, with over 3,000 active firms and billions of digital transactions annually. However, to fully realize the potential of this momentum, the region needs platforms like APIBox that foster safe experimentation, regulatory alignment, and scalable innovation.

As open finance evolves, tools like APIBox will be key to ensuring that technological advancement translates into inclusive, resilient, and people-centred financial systems.