Such acquisition, archiving and use of data is what gives space to new opportunities, and that is what makes Mexico a pioneer, not only among the countries of its level of development, but in the world. Furthermore, the data may not only be analyzed by the bank we choose, but also the law contemplates the option to “mine data,” that is FinTechs may intervene in collaboration with a inancial entity or on their own, as long as the client so decides, to study the data owned by the client and draw conclusions and suggestions based on the accumulated information. Data is to the economy of the 21st Century what oil was to the This implies that users of inancial services will be able to monetize their information. Likewise, the foregoing will result in greater competition, given the beneit that the economy of the 20th Century. largest institutions have when exercising the monopoly of information, it will cease to be a barrier to entry. This concept operating through “Standardized application programming interfaces” (APIs) will be the great technological challenge for the inancial sector and for new companies included in the Law. Financial institutions, FinTechs and other entities identiied in the FinTech Law (money transferors, clearing houses, credit bureaus and companies authorized to transact with Completely New Models) will be forced to establish APIs that enable connectivity and access to developers possible, and in turn, by the remaining of said companies. CNBV will establish the communication protocols and data standardization that shall be observed to protect the integrity and security of the clients’ information. CNBV will authorize the exchange fees to be charged by one entity to the others for information, fees which will be reasonable and have no impact or create obstacles for competitiveness. Likewise, it should be noted that the entities accessing the clients’ information through APIs will be also subject to the terms and conditions provided in the Ley Federal de Protección de Datos Personales en Posesión de los Particulares [Federal Law for the Protection of Personal Data under Possession of Private Parties]. A TWO-WAY PATH26