“Open Banking is an increasingly popular area globally. It began with the adoption by the European Parliament of the revised Payment Services Directive (PSD2) in 2015 and the UK leading the development of Open Banking internationally since. While there is no single authoritative definition of the concept, Open Banking is generally understood as the right of consumers to share their banking data with third parties of their choice so these can offer a better value for money service. Where a consumer instructs her bank to share certain financial data, the bank is required to open these data up to the chosen provider …”
€
Ross P Buckley, Natalia Jevglevskaja and Scott Farrell, Australia’s Data-Sharing Regime: Six Lessons for Europe, King’s Law Journal, https://doi.org/10.1080/09615768.2022.2034582. Published online 14 March.
First posted 2022-03-15 12:00:29
Leave a Reply