Klar leverages Mexico open finance for underwriting

This is really about turning Klar from a single account into a data aggregator for a customer’s whole financial life. In Mexico, open finance is being built so regulated players can exchange data through APIs with customer consent, which means Klar can see inflows, balances, payment behavior, and account usage beyond its own app. That makes underwriting more accurate, lets Klar pre approve the right card, loan, or savings offer, and lowers the cost of guessing wrong on thin file customers.

• Klar already underwrites with bureau data, device signals, and in app behavior, then offers loans after 60 to 90 days of transaction history. Open finance extends that same logic to accounts held elsewhere, so Klar can score a new user with more than a selfie, a CURP, and a short on platform history.
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• The practical edge is product targeting, not just compliance. If Klar can detect salary deposits at another bank, recurring bill payments, or low balance volatility, it can push a higher credit line, a cash advance, or an investment product to users who are most likely to accept and repay.
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• This mirrors a broader LatAm pattern where fintechs win by centralizing fragmented money data into one screen. In business banking, Kapital uses banking plus ERP data to see payables, receivables, and cash flow in one place. Klar is applying the consumer version of that playbook, with open finance making outside account data portable.
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As Mexico moves from the legal framework toward fuller implementation, the winners will be the fintechs that can turn raw external account data into faster approvals and better timed offers. That should favor Klar, because its model already depends on rapid risk decisions and cross selling cards, loans, deposits, and investments inside one app.