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From open banking to open finance and beyond: The future of financial data-sharing

The Payments Association

Industry Voices The evolution from open banking to open finance and open data represents a global paradigm shift fuelled by regulatory tailwinds like PSD3 in Europe and similar initiatives worldwide. This raises profound questions around privacy, consent, data security, and liability.

Finance 88
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Data protection enables responsible information sharing to combat scams and fraud

Neopay

A vital takeaway is this: data protection law does not prevent organisations from sharing personal information if they do so in a responsible, fair, and proportionate manner. Why responsible data sharing matters The UK GDPR and the Data Protection Act 2018 (DPA) support the responsible sharing of personal data when mitigating scams and fraud.

Scams 52
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Guarding the Gates: Data Compliance and Privacy

Segpay

Striking the Balance Between ID Management and Data Protection In the digital age, where data drives everything from marketing strategies to AI algorithms, a growing number of citizens are worried about the protection of their personal data. Africa and Asia show different levels of adoption with resp.

Privacy 105
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NJ Legislators Propose Tighter Data Privacy Regulations

PYMNTS

Lawmakers in New Jersey are proposing a bill to solidify data privacy guidelines and inflict tougher limits on the tech industry, The Wall Street Journal reported on Monday (March 2). New Jersey joins Washington, Illinois and other states and regions in introducing data privacy laws.

Privacy 99
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Why APIs, Privacy Are Key To Open Banking Innovation

PYMNTS

have passed laws or implemented programs over the past two years to put more focus on digital banking and data security, fundamentally changing how online transactions work. The EU’s PSD2 and GDPR regulations were passed in 2018 and designed with a primary focus on interoperability between open banking systems around the world.

Privacy 98
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Can Regulating Wearables Protect Data Privacy?

PYMNTS

However, as IoT continues to proliferate in more industries and use cases, concerns about data privacy have quickly followed, with consumers and lawmakers ra ising concerns about attacks from bad actors. IoT-related revenue grew by 15 percent in 2018, according to an industry study.

Privacy 81
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2018 Data Breaches: The List No One Wanted To Make

PYMNTS

According to the report, cybercrime touched nearly every sector throughout 2018, including those that may seem less obvious, like education or manufacturing — and for one obvious reason: the money. Facebook’s 2018 regarding the stewardship of user data and privacy was one it would like to soon forget.