IAPP Europe Data Protection Congress 2018

Description

Chair panel on new EU payment Services Directive. PSD2 implementation means banks’ monopolies on their customer account information is about to disappear. PSD2 enables bank customers—consumers and businesses—to use third-party fintech providers to manage their finances. If individuals provide consent, banks will be obligated to provide these fintech providers access to customers’ account data through open Application Programme Interfaces, enabling these third-parties to build financial services on top of the banks’ data and infrastructure. It is clear that this ‘open banking requirement’ does not sit well with data protection rules. Given the potential impact of new fintech services and the sensitivity of the data involved, the market would benefit from clear guidance on permissible and impermissible uses of the data by the fintech providers. This multi-jurisdictional panel will bring together experts from the European Commission, EDPS, the Dutch FSA, and banks to explore this topic

Period	18 Apr 2018
Event type	Conference
Location	LondonShow on map