Rethinking the Right to Data Portability in the Transition from Open Banking to Open Finance in the EU

Rethinking the Right to Data Portability in the Transition from Open Banking to Open Finance in the EU

Author: José Daniel Sánchez Quiñones

Publisher: Editora Dialética

Published: 2024-05-28

Total Pages: 81

ISBN-13: 6527027370

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Amidst the transition from Open Banking to Open Finance across the European Union (EU), this insightful book delves into how individuals' control over their data is impacted. With Open Banking reshaping data sharing, the EU seeks to extend this model to sectors like insurance through Open Finance. The research examines how this shift affects the Right to Data Portability (RDP), giving users the ability to manage and transfer their data among financial service providers. Through qualitative analysis, it clarifies the dynamics between RDP, Open Banking, and Open Finance. Chapters trace the regulatory evolution, explore standardization efforts like the 'SEPA API Access Scheme', and address challenges such as defining data categories and legal processing grounds. The book advocates for a user-centric approach to Open Finance regulation, emphasizing trust and privacy in the digital financial landscape. Texto de contracapa: Amidst the transition from Open Banking to Open Finance across the European Union (EU), this insightful book delves into how individuals' control over their data is impacted. With Open Banking reshaping data sharing, the EU seeks to extend this model to sectors like insurance through Open Finance. The research examines how this shift affects the Right to Data Portability (RDP), giving users the ability to manage and transfer their data among financial service providers. Through qualitative analysis, it clarifies the dynamics between RDP, Open Banking, and Open Finance. Chapters trace the regulatory evolution, explore standardization efforts like the 'SEPA API Access Scheme', and address challenges such as defining data categories and legal processing grounds. The book advocates for a user-centric approach to Open Finance regulation, emphasizing trust and privacy in the digital financial landscape.


Book Synopsis Rethinking the Right to Data Portability in the Transition from Open Banking to Open Finance in the EU by : José Daniel Sánchez Quiñones

Download or read book Rethinking the Right to Data Portability in the Transition from Open Banking to Open Finance in the EU written by José Daniel Sánchez Quiñones and published by Editora Dialética. This book was released on 2024-05-28 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amidst the transition from Open Banking to Open Finance across the European Union (EU), this insightful book delves into how individuals' control over their data is impacted. With Open Banking reshaping data sharing, the EU seeks to extend this model to sectors like insurance through Open Finance. The research examines how this shift affects the Right to Data Portability (RDP), giving users the ability to manage and transfer their data among financial service providers. Through qualitative analysis, it clarifies the dynamics between RDP, Open Banking, and Open Finance. Chapters trace the regulatory evolution, explore standardization efforts like the 'SEPA API Access Scheme', and address challenges such as defining data categories and legal processing grounds. The book advocates for a user-centric approach to Open Finance regulation, emphasizing trust and privacy in the digital financial landscape. Texto de contracapa: Amidst the transition from Open Banking to Open Finance across the European Union (EU), this insightful book delves into how individuals' control over their data is impacted. With Open Banking reshaping data sharing, the EU seeks to extend this model to sectors like insurance through Open Finance. The research examines how this shift affects the Right to Data Portability (RDP), giving users the ability to manage and transfer their data among financial service providers. Through qualitative analysis, it clarifies the dynamics between RDP, Open Banking, and Open Finance. Chapters trace the regulatory evolution, explore standardization efforts like the 'SEPA API Access Scheme', and address challenges such as defining data categories and legal processing grounds. The book advocates for a user-centric approach to Open Finance regulation, emphasizing trust and privacy in the digital financial landscape.

Banking on Data

Banking on Data

Author: Scott Farrell

Publisher: Kluwer Law International B.V.

Published: 2023-03-09

Total Pages: 258

ISBN-13: 940353186X

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International Banking and Finance Law Series, Volume 37 Despite open banking’s broad emergence in a variety of jurisdictions and the ambition shared for the benefits it is to deliver, there is a distinct lack of detailed analysis of the legal features which are needed for it to be effectively established. This indispensable study is the first to analyse open banking’s legal foundations by reference to banking law rather than to privacy law or competition law. With a detailed focus on the mature open banking systems of Australia and the United Kingdom, including Australia’s Consumer Data Right, the book’s thoroughgoing legal perspective provides a comprehensive framework which can be used to evaluate and design open banking in any jurisdiction. The presentation proceeds through a comparison of the legal rights, responsibilities, and relationships under open banking systems with equivalent rights in traditional banking payment systems. This process clearly reveals and addresses such salient open banking and data-sharing issues as the following: what data should be shareable and who should be required to share data; how data should be shared and how rights to share data should be established; the role of data minimisation and the role of consent; how laws, standards, rules, and technology interact in an open banking system; how open banking fosters competition, innovation, and financial inclusion; how consumer protection can be included by design; management of quality and security of shared data; facilitation and regulation of participation; legal relationships and allocation of liability among participants; compensation for customers if something goes wrong; strategic challenges and opportunities; enforceability and insolvency; systemic efficacy and safety; and the role of trust. Also included is an assessment framework designed to categorise the risks which arise in open banking and other data-sharing systems. As a systematic appraisal of how banking law can be used to ensure the customer autonomy, data portability, recipient accountability and participant connectivity promised by open banking systems, the book’s legal perspective on the value of customer data will prove of inestimable value for lawyers in banking and finance, as well as for professionals in financial services or information technology.


Book Synopsis Banking on Data by : Scott Farrell

Download or read book Banking on Data written by Scott Farrell and published by Kluwer Law International B.V.. This book was released on 2023-03-09 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Banking and Finance Law Series, Volume 37 Despite open banking’s broad emergence in a variety of jurisdictions and the ambition shared for the benefits it is to deliver, there is a distinct lack of detailed analysis of the legal features which are needed for it to be effectively established. This indispensable study is the first to analyse open banking’s legal foundations by reference to banking law rather than to privacy law or competition law. With a detailed focus on the mature open banking systems of Australia and the United Kingdom, including Australia’s Consumer Data Right, the book’s thoroughgoing legal perspective provides a comprehensive framework which can be used to evaluate and design open banking in any jurisdiction. The presentation proceeds through a comparison of the legal rights, responsibilities, and relationships under open banking systems with equivalent rights in traditional banking payment systems. This process clearly reveals and addresses such salient open banking and data-sharing issues as the following: what data should be shareable and who should be required to share data; how data should be shared and how rights to share data should be established; the role of data minimisation and the role of consent; how laws, standards, rules, and technology interact in an open banking system; how open banking fosters competition, innovation, and financial inclusion; how consumer protection can be included by design; management of quality and security of shared data; facilitation and regulation of participation; legal relationships and allocation of liability among participants; compensation for customers if something goes wrong; strategic challenges and opportunities; enforceability and insolvency; systemic efficacy and safety; and the role of trust. Also included is an assessment framework designed to categorise the risks which arise in open banking and other data-sharing systems. As a systematic appraisal of how banking law can be used to ensure the customer autonomy, data portability, recipient accountability and participant connectivity promised by open banking systems, the book’s legal perspective on the value of customer data will prove of inestimable value for lawyers in banking and finance, as well as for professionals in financial services or information technology.

Open Banking

Open Banking

Author: Linda Jeng

Publisher: Oxford University Press

Published: 2022-01-07

Total Pages: 345

ISBN-13: 0197582893

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Open banking is a silent revolution transforming the banking industry. It is the manifestation of the revolution of consumer technology in banking and will dramatically change not only how we bank, but also the world of finance and how we interact with it. Since the United Kingdom along with the rest of the European Union adopted rules requiring banks to share customer data to improve competition in the banking sector, a wave of countries from Asia to Africa to the Americas have adopted various forms of their own open banking regimes. Among Basel Committee jurisdictions, at least fifteen jurisdictions have some form of open banking, and this number does not even include the many jurisdictions outside the Basel Committee membership with open banking activities. Although U.S. banks and market participants have been sharing customer-permissioned data for the past twenty years and there have been recent policy discussions, such as the Obama administration's failed Consumer Data Privacy Bill and the Data Aggregation Principles of the Consumer Financial Protection Bureau, open banking is still a little-known concept among consumers and policymakers in the States. This book defines the concept of 'open banking' and explores key legal, policy, and economic questions raised by open banking.


Book Synopsis Open Banking by : Linda Jeng

Download or read book Open Banking written by Linda Jeng and published by Oxford University Press. This book was released on 2022-01-07 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Open banking is a silent revolution transforming the banking industry. It is the manifestation of the revolution of consumer technology in banking and will dramatically change not only how we bank, but also the world of finance and how we interact with it. Since the United Kingdom along with the rest of the European Union adopted rules requiring banks to share customer data to improve competition in the banking sector, a wave of countries from Asia to Africa to the Americas have adopted various forms of their own open banking regimes. Among Basel Committee jurisdictions, at least fifteen jurisdictions have some form of open banking, and this number does not even include the many jurisdictions outside the Basel Committee membership with open banking activities. Although U.S. banks and market participants have been sharing customer-permissioned data for the past twenty years and there have been recent policy discussions, such as the Obama administration's failed Consumer Data Privacy Bill and the Data Aggregation Principles of the Consumer Financial Protection Bureau, open banking is still a little-known concept among consumers and policymakers in the States. This book defines the concept of 'open banking' and explores key legal, policy, and economic questions raised by open banking.

The Economics and Implications of Data

The Economics and Implications of Data

Author: Mr.Yan Carriere-Swallow

Publisher: International Monetary Fund

Published: 2019-09-23

Total Pages: 50

ISBN-13: 1513514814

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This SPR Departmental Paper will provide policymakers with a framework for studying changes to national data policy frameworks.


Book Synopsis The Economics and Implications of Data by : Mr.Yan Carriere-Swallow

Download or read book The Economics and Implications of Data written by Mr.Yan Carriere-Swallow and published by International Monetary Fund. This book was released on 2019-09-23 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This SPR Departmental Paper will provide policymakers with a framework for studying changes to national data policy frameworks.

Shock Waves

Shock Waves

Author: Stephane Hallegatte

Publisher: World Bank Publications

Published: 2015-11-23

Total Pages: 227

ISBN-13: 1464806748

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Ending poverty and stabilizing climate change will be two unprecedented global achievements and two major steps toward sustainable development. But the two objectives cannot be considered in isolation: they need to be jointly tackled through an integrated strategy. This report brings together those two objectives and explores how they can more easily be achieved if considered together. It examines the potential impact of climate change and climate policies on poverty reduction. It also provides guidance on how to create a “win-win†? situation so that climate change policies contribute to poverty reduction and poverty-reduction policies contribute to climate change mitigation and resilience building. The key finding of the report is that climate change represents a significant obstacle to the sustained eradication of poverty, but future impacts on poverty are determined by policy choices: rapid, inclusive, and climate-informed development can prevent most short-term impacts whereas immediate pro-poor, emissions-reduction policies can drastically limit long-term ones.


Book Synopsis Shock Waves by : Stephane Hallegatte

Download or read book Shock Waves written by Stephane Hallegatte and published by World Bank Publications. This book was released on 2015-11-23 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ending poverty and stabilizing climate change will be two unprecedented global achievements and two major steps toward sustainable development. But the two objectives cannot be considered in isolation: they need to be jointly tackled through an integrated strategy. This report brings together those two objectives and explores how they can more easily be achieved if considered together. It examines the potential impact of climate change and climate policies on poverty reduction. It also provides guidance on how to create a “win-win†? situation so that climate change policies contribute to poverty reduction and poverty-reduction policies contribute to climate change mitigation and resilience building. The key finding of the report is that climate change represents a significant obstacle to the sustained eradication of poverty, but future impacts on poverty are determined by policy choices: rapid, inclusive, and climate-informed development can prevent most short-term impacts whereas immediate pro-poor, emissions-reduction policies can drastically limit long-term ones.

The Fourth Industrial Revolution

The Fourth Industrial Revolution

Author: Klaus Schwab

Publisher: Currency

Published: 2017-01-03

Total Pages: 192

ISBN-13: 1524758876

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World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolu­tion, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.


Book Synopsis The Fourth Industrial Revolution by : Klaus Schwab

Download or read book The Fourth Industrial Revolution written by Klaus Schwab and published by Currency. This book was released on 2017-01-03 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolu­tion, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.

Global Financial Development Report 2013

Global Financial Development Report 2013

Author: World Bank

Publisher: World Bank Publications

Published: 2012-09-01

Total Pages: 220

ISBN-13: 0821395041

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This new annual publication from the World Bank Group provides an overview and assessment of financial sector development around the world, with particular attention on medium- and low-income countries.


Book Synopsis Global Financial Development Report 2013 by : World Bank

Download or read book Global Financial Development Report 2013 written by World Bank and published by World Bank Publications. This book was released on 2012-09-01 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new annual publication from the World Bank Group provides an overview and assessment of financial sector development around the world, with particular attention on medium- and low-income countries.

Transition and Coherence in Intellectual Property Law

Transition and Coherence in Intellectual Property Law

Author: Niklas Bruun

Publisher: Cambridge University Press

Published: 2021-01-07

Total Pages: 531

ISBN-13: 1108484603

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This volume is for students and scholars of intellectual property law, practitioners seeking creative arguments from across the field, and policymakers searching for solutions to changing social and technological issues. The book explores the tensions between two fundamentally competing demands made of IP law.


Book Synopsis Transition and Coherence in Intellectual Property Law by : Niklas Bruun

Download or read book Transition and Coherence in Intellectual Property Law written by Niklas Bruun and published by Cambridge University Press. This book was released on 2021-01-07 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is for students and scholars of intellectual property law, practitioners seeking creative arguments from across the field, and policymakers searching for solutions to changing social and technological issues. The book explores the tensions between two fundamentally competing demands made of IP law.

Unleashing the potential

Unleashing the potential

Author: Marope, P.T.M.

Publisher: UNESCO Publishing

Published: 2015-05-26

Total Pages: 224

ISBN-13: 9231000918

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"UNESCO has recently published the third volume of its Education on the Move series, a series dedicated to the analysis of key trends in education with the hope of inspiring dialogue among policy makers, educators and other key stakeholders on the challenges of education for tomorrow. The latest publication, entitled Unleashing the Potential: Transforming Technical and Vocational Education and Training is focused entirely on issues related to technical and vocational education and training (TVET). It takes stock of the steadily increasing demands and expectations on TVET systems around the globe and presents recent policy trends in the field of TVET. In their analysis, the authors provide insights into what it takes to unleash the potential of TVET systems around the world. They propose an integrated analytical approach that takes into consideration such factors as economic growth, social equity and issues related to sustainability so that TVET can contribute more effectively to contemporary policy issues such as youth unemployment, gender disparities and climate change. Overall, the book calls for a transformation of TVET systems to enable them to respond to the demands of their contexts. This transformation should enable TVET systems to acquire agility to stay current and responsive to the rapidly changing demands of the twenty-first century."--Publisher's website.


Book Synopsis Unleashing the potential by : Marope, P.T.M.

Download or read book Unleashing the potential written by Marope, P.T.M. and published by UNESCO Publishing. This book was released on 2015-05-26 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: "UNESCO has recently published the third volume of its Education on the Move series, a series dedicated to the analysis of key trends in education with the hope of inspiring dialogue among policy makers, educators and other key stakeholders on the challenges of education for tomorrow. The latest publication, entitled Unleashing the Potential: Transforming Technical and Vocational Education and Training is focused entirely on issues related to technical and vocational education and training (TVET). It takes stock of the steadily increasing demands and expectations on TVET systems around the globe and presents recent policy trends in the field of TVET. In their analysis, the authors provide insights into what it takes to unleash the potential of TVET systems around the world. They propose an integrated analytical approach that takes into consideration such factors as economic growth, social equity and issues related to sustainability so that TVET can contribute more effectively to contemporary policy issues such as youth unemployment, gender disparities and climate change. Overall, the book calls for a transformation of TVET systems to enable them to respond to the demands of their contexts. This transformation should enable TVET systems to acquire agility to stay current and responsive to the rapidly changing demands of the twenty-first century."--Publisher's website.

The Path to Becoming a Data-Driven Public Sector

The Path to Becoming a Data-Driven Public Sector

Author: Oecd

Publisher: Org. for Economic Cooperation & Development

Published: 2019-11-28

Total Pages: 168

ISBN-13: 9789264517950

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Twenty-first century governments must keep pace with the expectations of their citizens and deliver on the promise of the digital age. Data-driven approaches are particularly effective for meeting those expectations and rethinking the way governments and citizens interact. This report highlights the important role data can play in creating conditions that improve public services, increase the effectiveness of public spending and inform ethical and privacy considerations. It presents a data-driven public sector framework that can help countries or organisations assess the elements needed for using data to make better-informed decisions across public sectors.


Book Synopsis The Path to Becoming a Data-Driven Public Sector by : Oecd

Download or read book The Path to Becoming a Data-Driven Public Sector written by Oecd and published by Org. for Economic Cooperation & Development. This book was released on 2019-11-28 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twenty-first century governments must keep pace with the expectations of their citizens and deliver on the promise of the digital age. Data-driven approaches are particularly effective for meeting those expectations and rethinking the way governments and citizens interact. This report highlights the important role data can play in creating conditions that improve public services, increase the effectiveness of public spending and inform ethical and privacy considerations. It presents a data-driven public sector framework that can help countries or organisations assess the elements needed for using data to make better-informed decisions across public sectors.