Data portability in open banking
Privacy and other cross-cutting issues
Open banking allows users to access financial information and services through consent-based
data portability. This paper brings together the views of private and public experts
from a wide variety of countries to explore opportunities and challenges of open banking
for financial regulation, privacy protection, and competition. It discusses the different
approaches taken by jurisdictions across the globe, and the importance of regulation
and standards. While open banking empowers users in sharing and re-using their data
across digital services, online platforms, sectors and borders, uncertainty in the
interactions with data protection and privacy regimes remains challenging. This paper
informs OECD work to consider how cross-sectoral cooperation between financial, competition
and data protection authorities could help further open banking.
Available from February 16, 2023
In series:OECD Digital Economy Papersview more titles