Open Banking
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Open Banking
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Author : Linda Jeng
language : en
Publisher: Oxford University Press
Release Date : 2022-01-07
Open Banking written by Linda Jeng and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-07 with Law categories.
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.
Open Banking
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Author : Markus Bramberger
language : en
Publisher: Springer Nature
Release Date : 2022-03-05
Open Banking written by Markus Bramberger and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-05 with Business & Economics categories.
In this essential, Markus Bramberger examines the development of open banking and its products in Europe. The author answers specific questions about possible substitution scenarios with regard to traditional - non-opening - financial institutions. Against the background of this challenging, risky, but also opportunity-generating time in the financial sector, the reader acquires a focused knowledge of open banking and FinTech topics.
Open Banking And Financial Inclusion
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Author : Ellie Duncan
language : en
Publisher: Kogan Page Publishers
Release Date : 2024-04-03
Open Banking And Financial Inclusion written by Ellie Duncan and has been published by Kogan Page Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-04-03 with Business & Economics categories.
Open Banking and Financial Inclusion enables readers to make informed decisions about open banking. Open Banking creates opportunities to develop more innovative products, increase customer satisfaction, and has the potential to open up access to financial services to those previously excluded and underbanked. Open Banking and Financial Inclusion reviews the opportunities, realities and limitations of open banking as it pertains to social inclusion, acknowledging the importance of impact and authenticity in ESG actions. It considers whether open banking is really working for the benefit of consumers by speaking to key people across the open banking, fintech and data sharing industry and also explores how banks and fintechs are measuring their social impact. Readers will gain insights from real people about their journey from financial exclusion to inclusion, and the part played by open banking. They will also access case studies offering an in-depth picture of how open banking has developed in both emerging and developed markets and where open banking has been successful in promoting financial inclusion. Open Banking and Financial Inclusion investigates the ultimate intention of open banking and its lead up to open finance.
Open Banking
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Author : Francesco De Pascalis
language : en
Publisher:
Release Date : 2024
Open Banking written by Francesco De Pascalis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024 with Business & Economics categories.
"Open banking ends the proprietary control of customer information by banks and allows customers to share their banking financial data with third parties as a matter of right. It can also permit customers to allow others to remove funds direct from their bank accounts in return for goods and services. All of this is done securely with standardised 'application programming interfaces' (APIs). Open banking has developed in different ways and with different objectives across the globe. This book examines the empowering and enabling regulations that facilitate all this. This book compares a number of different open banking national strategies. These range from the focus of the UK and EU on enhanced competition to the more collaborative approaches in many East Asian jurisdictions. It also looks at the use of open banking for socio-economic purpose in Brazil and India. Here open banking forms part of a wider government programme to increase financial inclusion coupled with encouraging economic growth. This book will be valuable for fintech companies, policymakers and financial services regulators. Its overarching aim is to demonstrate the possibilities and challenges of open banking and how it is changing lives across the world"--
Banking On Data
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Author : Scott Farrell
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2023-03-09
Banking On Data written by Scott Farrell and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-09 with Law categories.
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 Strategy Formation
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Author : Paul Rohan
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2017-04-19
Open Banking Strategy Formation written by Paul Rohan and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-19 with Application program interfaces (Computer software) categories.
Open Banking is an emerging and high-profile area in financial services. There is a 'market forces' definition of Open Banking. It refers to the use of Open APIs that enable third-party Developers to build applications and services around banks. There is also a 'regulatory' definition of Open Banking, focused on greater transparency and choices for bank account holders which is being enforced by regulators. Some commentators suggest that Open Banking could cure many ills in modern banking. The emerging Open Banking environment is often described as an Ecosystem. Healthy ecosystems have viable populations of various interacting species, ecosystem diversity, a constant evolutionary process and sufficient evolutionary potential. The potential interactions in an Open Banking Ecosystem interests many investors and entrepreneurs. Within existing banks, corporate strategists, technology specialists, business unit leaders and risk managers are also examining its impact on the landscape of financial services. As an Open Banking Ecosystem emerges, a central question must be the capability of existing banks to adapt and evolve into this new environment. Open Banking Strategy Formation examines the forces that are likely to influence the evolution of Open Banking at an industry level. The transition of the industry to Open Banking will come from a patchwork of deliberate and reactive changes by existing and emerging market participants. Open Banking Strategy Formation will help existing and new market participants to judge how and when their businesses can become part of the Open Banking Ecosystem.
Rethinking The Right To Data Portability In The Transition From Open Banking To Open Finance In The Eu
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Author : José Daniel Sánchez Quiñones
language : en
Publisher: Editora Dialética
Release Date : 2024-05-28
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 has been published by Editora Dialética this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-28 with Business & Economics categories.
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.
India S Approach To Open Banking Some Implications For Financial Inclusion
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Author : Mr.Yan Carriere-Swallow
language : en
Publisher: International Monetary Fund
Release Date : 2021-02-26
India S Approach To Open Banking Some Implications For Financial Inclusion written by Mr.Yan Carriere-Swallow and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-26 with Business & Economics categories.
We examine how the development of the digital infrastructure known as the “India Stack”—including an interoperable payments system, a universal digital ID, and other features—is delivering on the government’s objective to expand the provision of financial services. While each individual component of the India Stack is important, we argue that its key overarching feature is a foundational approach of providing extensive public infrastructures and standards that generates important synergies across the layers of the Stack. Until recently, a large share of India’s population lacked access to formal banking services and was largely reliant on cash for financial transactions. The expansion of mobile-based financial services that enable simple and convenient ways to save and conduct financial transactions has provided a novel alternative for expanding the financial net. The Stack’s improved digital infrastructures have already allowed for a rapid increase in the use of digital payments and the entry of a range of competitors including fintech and bigtech firms.
Open Banking
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Author : Gerardus Blokdyk
language : en
Publisher: 5starcooks
Release Date : 2018-01-16
Open Banking written by Gerardus Blokdyk and has been published by 5starcooks this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-16 with categories.
What are the top 3 things at the forefront of our Open Banking agendas for the next 3 years? Are there any specific expectations or concerns about the Open Banking team, Open Banking itself? Will team members perform Open Banking work when assigned and in a timely fashion? How do we Lead with Open Banking in Mind? Are we making progress? and are we making progress as Open Banking leaders? This powerful Open Banking self-assessment will make you the established Open Banking domain master by revealing just what you need to know to be fluent and ready for any Open Banking challenge. How do I reduce the effort in the Open Banking work to be done to get problems solved? How can I ensure that plans of action include every Open Banking task and that every Open Banking outcome is in place? How will I save time investigating strategic and tactical options and ensuring Open Banking opportunity costs are low? How can I deliver tailored Open Banking advice instantly with structured going-forward plans? There's no better guide through these mind-expanding questions than acclaimed best-selling author Gerard Blokdyk. Blokdyk ensures all Open Banking essentials are covered, from every angle: the Open Banking self-assessment shows succinctly and clearly that what needs to be clarified to organize the business/project activities and processes so that Open Banking outcomes are achieved. Contains extensive criteria grounded in past and current successful projects and activities by experienced Open Banking practitioners. Their mastery, combined with the uncommon elegance of the self-assessment, provides its superior value to you in knowing how to ensure the outcome of any efforts in Open Banking are maximized with professional results. Your purchase includes access details to the Open Banking self-assessment dashboard download which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next. Your exclusive instant access details can be found in your book.
Regulating Open Banking
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Author : Chang-Hsien Tsai
language : en
Publisher: Taylor & Francis
Release Date : 2022-11-29
Regulating Open Banking written by Chang-Hsien Tsai and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-11-29 with Business & Economics categories.
FinTech transformations have brought changes to the global financial markets and merit the attention of financial regulators across jurisdictions. This book is one of the first ones of its kind to look at open banking (OB). It examines regulatory approaches to OB by taking a broad view of comparative legal systems and through perspectives of transaction costs, public choice, and institutional design. The book looks at the legal implications by engaging in a two-tiered comparative analysis: comparing between compulsory and voluntary approaches to OB policies and comparing the legal systems between the West (i.e., the EU and the UK) and an Asian economy (i.e., Taiwan).