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Fintech Market Overview

This article does not constitute legal advice.

Client identification in Brazil

Fintech Software

Despite there are a plenty of different IDs in Brazil, a driver’s license might substitute many of them. Nowadays, taking into account the fact that a driver’s license might be transformed into its e-version, many citizens prefer to use it on their smartphones instead of its hard copy; however, the paper format is still legal.1

It is necessary to point out that Federal Law No. 13,444/2017 implemented the national identity document (DNI). It is a digital instrument that will cancel the obligation imposed on citizens to keep paper documents such as birth and marriage certificates, voter registration and taxpayer registry identification. However, the development of DNI is still underway and it has not been completely put into practice so far. Alongside, Presidential Decree No. 9,723/2019, published in February, 2019, stipulated that the taxpayer registry identification number is enough to obtain data, services and the enjoy rights or bonuses. As for now, this regulation is intended exclusively for identification before public authorities, however, it might be applied by other body, either private or public, that would like to simplify identification procedures.1

Digital onboarding in Brazil

Fintech in Brazil

Fintech in other countries

Notes
  1. https://thelawreviews.co.uk/title/the-financial-technology-law-review/brazil
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