Trust Frameworks as an enabler of open finance and cross-sector opportunities
FRIDAY, FEBRUARY 24, 2023
Ruth Wandhofer on trust frameworks and how these will play a vital role in the success of the data economy. Creating opportunities for traditional and new players alike.
During our recent Smart Briefing: The Power and Pitfalls of Certificates in Open Banking, leading fintech expert Ruth Wandhofer provided a quick view on trust frameworks and how these will play a vital role in the success of the data economy. Creating opportunities for traditional and new players alike.
About this smart briefing:
A recent European Banking Authority report recognises the need for a real-time machine-readable database to facilitate the “verification of the current authorisation status” by ASPSPs of TPPs accessing their open banking APIs. The EBA recognises that the EBA PSP register has limitations with the quality of data (inconsistencies, errors and omissions) and leaves ASPSPs exposed. How can ASPSPs make meaningful risk management decisions and protect their customers?
“TPP certification is an ongoing problem within Europe. It can negatively impact the ability of a TPP to access end-users account information. We have faced this challenge at Plaid, negatively impacting us and taking multiple weeks to remedy.” Kat Cloud, UK Policy Lead, Plaid
This hour long, interactive, smart briefing examined this issue from a variety of viewpoints. Recommending steps that can be taken to ensure data is being shared appropriately. Protecting consumers and reputations across the growing open finance sector.
Smart Briefings are one hour long, free to attend, virtual events. Composed of bite-sized pre-recorded video presentations interspersed with 1-2-1 video speed-networking segments, each lasting 5 minutes. At the end of the Briefing, you can connect to the people you matched with and you can download the presenter’s slides. It is a very fast paced, effective and engaging way to brief industry leaders and connect them on hot topics.
https://openfuture.world/view/the-power-and-pitfalls-of-certificates-in-open-banking-ruth-wandhofer/