Regulators and firms confront problems of ‘open banking’
New ways of sharing financial data – often known as “open banking” – are helping to create new choice for consumers, but they are also throwing up challenges for firms and regulators.
The Basel Committee on Banking Supervision (BCBS) defines open banking as the “sharing and leveraging of customer-permissioned data by banks with third-party developers and firms to build applications and services”.
Firms authorised to provide online services under the “open banking” initiatives are called third
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Fintech
Singapore’s central bank to work with Google on AI
MAS also announces AI training programme for financial sector
HKMA launches retail CBDC pilots
Hong Kong central bank will work with 16 firms, including banks and payment companies
Ethiopia’s central bank issues first foreign mobile money licence
Central bank says there is strong public demand for fintech services
Fintech Benchmarks 2023 – presentation
Specialist Joasia E. Popowicz discusses CBDCs, cyber security, AI/ML in regtech, suptech and cloud computing
BoE and BIS test synchronised DLT settlement
Prototype leaves open legality of digitised asset transfer
Fintech Benchmarks 2023 – executive summary
Most central banks continue work on CBDC, while payments innovation again tops research agenda
Fintech Benchmarks 2023 report – the future of money
Most central banks continue work on CBDC, while payments innovation again tops research agenda
Brazil’s central bank authorises business payments on WhatsApp
Peers can also send money in India, while B2B only is enabled in Singapore