Is Open Banking Really the Future or is it Privacy’s Worst Nightmare?

 

Open banking has shaken up the financial services industry and has been considered a game-changer to the industry over the past couple of years.

 

While Open banking brings a significant benefit to consumers, there is still a concern for the privacy and security of this technology.

This session will look at:

· The current landscape of open banking

· How robust are banks’ security measures that enable third parties to monitor APIs and data?

· What controls are in place to enforce consumer decisions on third party data access, and how are financial organisations verifying third parties to make sure rules are being followed.

· The current regulations and what the penalties are for violations.