000048057 001__ 48057 000048057 003__ SzGeWIPO 000048057 005__ 20240708150357.0 000048057 006__ m eo d 000048057 007__ cr bn |||m|||a 000048057 008__ 230530s2022 enk o 001 0 eng 000048057 020__ $$a9780197582909$$qeBook 000048057 035__ $$a(OCoLC)1327748531 000048057 040__ $$aSzGeWIPO$$beng$$erda$$cSzGeWIPO$$dCaBNVSL 000048057 041__ $$aeng 000048057 050_4 $$aHG1616.S37 000048057 08204 $$a332.10289$$223 000048057 24510 $$aOpen banking. 000048057 264_1 $$aOxford :$$bOxford University Press,$$c2022 000048057 300__ $$a1 online resource 000048057 336__ $$atext$$2rdacontent 000048057 337__ $$acomputer$$2rdamedia 000048057 338__ $$aonline resource$$bcr$$2rdacarrier 000048057 5203_ $$aConsumers are growing more aware of the importance and value of the data they personally generate across industries and domains. Financial services is one such area where the link between one’s personal data and its economic value is most clearly established, and consumers are beginning to agitate for and gain a measure of agency over their data. A study of the phenomenon of open banking provides a focused lens on the broader phenomena of data proliferation and data monetization. Thus, open banking and its related legal and economic issues along with policy ideas, such as consumer financial data rights, can serve as an interesting model for the broader policy discussion on general data rights. Open banking is a specific manifestation of the revolution of consumer technology in banking and will dramatically change not only how we bank but also the world of finance and how we interact with it. Since the United Kingdom along with the rest of the European Union adopted rules requiring banks to share customer data to improve competition in the banking sector, a wave of countries from Asia to Africa to the Americas have adopted various forms of their own open banking regimes. Among Basel Committee jurisdictions, at least fifteen jurisdictions have some form of open banking, and this number does not even include the many jurisdictions outside the Basel Committee membership with open banking activities. Although US banks and market participants have been sharing customer-permissioned data for the past twenty years and there has been recent but limited policy discussions, such as the Obama administration’s failed Consumer Data Privacy Bill and the Data Aggregation Principles of the Consumer Financial Protection Bureau, open banking is still a little-known concept among consumers and policymakers in the United States. This book defines the concept of “open banking” and explores key legal, policy and economic questions raised by open banking. open banking, open data, data rights, data protection, economics of data, fintech. 000048057 588__ $$aOnline resource 000048057 650_0 $$aBanks and banking$$xSecurity measures. 000048057 650_0 $$aConfidential communications$$xBanking. 000048057 650_0 $$aData protection. 000048057 650_4 $$aFinancial services industry$$xSecurity measures 000048057 7001_ $$aJeng, Linda,$$eeditor. 000048057 85641 $$uhttps://doi.org/10.1093/oso/9780197582879.001.0001$$yView eBook 000048057 903__ $$aOxford Academic 000048057 904__ $$aJournal article 000048057 980__ $$aOS