Open Data, Open Banking - Creating a More Competitive Financial Services Ecosystem
Explore the impact of open banking and data access on the financial services ecosystem in this Milken Institute panel discussion. Delve into how technological advancements and mobile device proliferation have led to a data explosion driving FinTech innovation. Examine global efforts to increase competition through data access and portability regimes, and consider what the US can learn from these initiatives. Analyze the potential for American policymakers to implement data governance that fosters innovation and international competitiveness. Investigate the implications for banks, FinTechs, and Big Tech platforms. Gain insights from industry experts on topics such as API integration, liability responsibility, instant KYC, consent policies, and the differences between US and Indian approaches to open banking.