Open Banking
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Estimated delivery time: Expected time of arrival: end of January 2026.
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Product details:
- Publisher OUP USA
- Date of Publication 29 April 2022
- ISBN 9780197582879
- Binding Hardback
- No. of pages344 pages
- Size 191x264x33 mm
- Weight 794 g
- Language English 258
Categories
Short description:
Open banking is a silent revolution transforming the banking industry. It is the 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. This book defines the concept of 'open banking' and explores key legal, policy, and economic questions raised by open banking.
MoreLong description:
Open banking is a silent revolution transforming the banking industry. It is the 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 U.S. banks and market participants have been sharing customer-permissioned data for the past twenty years and there have been recent 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 States. This book defines the concept of 'open banking' and explores key legal, policy, and economic questions raised by open banking.
Over the past three years we have built a world-leading open banking infrastructure in the UK. With morethan four million consumers and businesses actively using open banking enabled products, over 300regulated companies operating in this space and another 450 looking to enter the market, momentum ison our side and it's a very exciting time to join our thriving open banking ecosystem.
Table of Contents:
Foreword by Chris Brummer
Introduction by Linda Jeng
Chapter 1: Open Banking Ecosystem and Infrastructure: Banking on Openness by Andres Wolberg-Stok
Chapter 2: Defining Data Rights and the Role of the Individual by Kaitlin Asrow
Chapter 3: Customer Protection and the Liability Conundrum in an Open Finance Ecosystem by Steven Boms and Sam Taussig
Chapter 4: Artificial Intelligence and Machine Learning: The Opportunities and Challenges of Using Big Data by Matthew Adam Bruckner
Chapter 5: Data Access Technology Standards: A History of Open Banking Data Access by Don Cardinal and Nick Thomas
Chapter 6: Taking Your Data with You: Singapore's Approach to Data Portability by Zee Kin Yeong and David Roi Hardoon
Chapter 7: Open Banking and the Economics of Data by Yan Carri?re-Swallow and Vikram Haksar
Chapter 8: Open Banking, Open Data, and Open Finance: Lessons from the European Union by Douglas W. Arner, Ross P. Buckley and Dirk A. Zetzsche
Chapter 9: United Kingdom: The Butterfly Effect by Gavin Littlejohn, Ghela Boskovich and Richard Prior
Chapter 10: The Australian Consumer Data Right: The Promise of Open Data by Julie McKay and Jamie Leach
Chapter 11: India's Approach to Open Banking: Some Implications for Financial Inclusion by Yan Carri?re-Swallow, Vikram Haksar and Manasa Patnam
Chapter 12: Digital Identity: Exploring a Consumer-centric Identity for Open Banking by Greg Kidd
Chapter 13: Decentralized Finance: The Future of Crypto and Open Finance? By Nic Carter
Chapter 14: From Open Banking to Open Data and Beyond: Competition and the Future of Banking by Brad Carr