Emma RadmoreBIS has published a report that looks at the growing trend in many jurisdictions towards an open banking. In particular, the report focuses on those aspects relating to customer-permissioned data sharing, ie where third parties are given access to a customer’s bank account data.
The Report calls for supervisors and banks to focus on risks arising from the increased sharing of customer-permissioned data, and also the growing range and extent of entities directly involved in the provision of financial services.