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New Rules: Open Banking, FinTech, and Big Tech

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Though General Data Protection Regulation has dominated headlines, open banking and the Second Payment Services Directive have set the tone for regulating financial data in the E.U. They are hailed by proponents as a way to make financial markets more competitive by allowing customers to transfer their banking data between institutions. FinTech companies have cheered these changes as an opportunity to rival traditional banks. But even the competition has competition: Asian and American tech firms seem poised to challenge both incumbents and FinTechs alike. How will contention for financial services play out, and what should policymakers consider as they implement the new regulations? Moderator James Mackintosh Senior Columnist, Markets, The Wall Street Journal Speakers Louise Beaumont Co-chair, Open Banking Working Group, techUK; Strategic Advisor, Open Banking, Publicis Groupe Elena Lieskovska Senior Managing Director, Head of European Specialty Finance, Värde Partners Gavin Littlejohn Chairman, Financial Data and Technology Association Ajay Vij Senior Vice President and Industry Head, Financial Services, Infosys #GDPR #FinTech #FinReg
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Text Comments (1)
Zessa Z Zenessa (5 months ago)
What will the common consent agreements look like? Should the common consumer read the fine print? Do they need an economics degree to understand?

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