Rethinking the Right to Data Portability in the Transition from Open Banking to Open Finance in the EU
By José Daniel Sánchez Quiñones
Length3h 27m
About this audiobook
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.
Audiobook details
GenreBusiness and Economics
Length3 hrs 27 mins
Narrated byListen with 1,000+ voices
FormateBook with Audio
Publish dateMay 28, 2024
LanguageEnglish
Table of contents
1Introduction
21. INTRODUCTION
31.1. Setting the stage
41.2. Research objectives
51.3. Research questions
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61.4. Methodology
71.5. Structure of the Thesis
82 BREAKING BOUNDARIES: THE EVOLUTION OF OPEN BANKING IN EUROPE
92.1. Understanding Open Banking
102.2. Data-sharing arrangements for payment services under the Revised Payment Services Directive (PSD2)
112.3. Integrating New Players in the Financial Industry
123. EXPANDING HORIZONS: OPEN FINANCE AND THE SEPA API ACCESS SCHEME IN EUROPE
133.1. Understanding Open Finance
143.2. Regulating Open Finance in Europe
153.3. Unleashing the Power of SEPA through the API Access Scheme
163.3.1. What is the Single Euro Payments Area (SEPA)?
173.3.2. What are the key elements and goals of the SEPA-API Access Scheme?
183.3.2.1 Goals
193.3.2.2. Governance
203.3.2.3. Business requirements and conditions
214. EXPLORING THE INTERSECTION BETWEEN OPEN BANKING, OPEN FINANCE, AND THE RIGHT TO DATA PORTABILITY
224.1. Understanding the Right to Data Portability
234.2. Synergies between the Right to Data Portability, Open Banking, and Open Finance
244.2.1. PSD2 obliges ASPSPs to comply with data protection law
254.2.2. RDP and PSD2 both promote open data access
264.2.3. Open Finance shares the same synergies with Open Banking, yet offers further benefits
274.3. Exercise of Right to Data Portability in the context of Open Finance
284.3.1. Analysis of the information categories
294.3.2. Analysis of the applicable legal grounds for processing personal information
304.3.3. Analysis of the way information will be shared
315. CONCLUSION
326. REFERENCES
33I. GLOSSARY
347. ANNEXES
357.1. Annex 1 – Estimates of Potential Gains from Open Data for Finance by 2030
367.2. Annex 2 - Global Open Banking Developments
377.3. Annex 3 – Types of API Strategies for Banks
387.4. Annex 4 – Examples of Companies and Banks Enrolled in Open Banking
397.5. Annex 5 - Synopsis of Commonalities between RDP, Open Banking and Open Finance
407.6. Annex 6 – Remuneration Models for the Brokerage of Data
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