Compliance-Ready Data Sharing Across Regulated Ecosystems
Open banking has picked up significant momentum worldwide. The US still follows an industry-led approach, but the UK, EU, Australia, and India have taken the regulatory route. Industry-led markets, like the US and Canada, are also moving towards a regulatory framework like CFPB Section1033 in the US and the Consumer-Driven Banking Act (CDBA) in Canada.More
Open banking has picked up significant momentum worldwide. The US still follows an industry-led approach, but the UK, EU, Australia, and India have taken the regulatory route. Industry-led markets, like the US and Canada, are also moving towards a regulatory framework like CFPB Section1033 in the US and the Consumer-Driven Banking Act (CDBA) in Canada. EU-PSD2, UK Open Banking, and Australia’s CDR—these frameworks all require explicit, consent-based data sharing. Customer data can only be accessed with the customer’s explicit consent, ensuring individuals remain in full control of their financial information.
For banks, the real challenge isn’t just about checking the compliance box. It’s finding domain-led technology partners who can deliver scalable implementation, accelerated time-to-market, and headroom for innovation—all within a regulated ecosystem.
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Are You Ready for the Open Banking Compliance?
Every region has its own open banking rulebook—and those rulebooks keep getting updated. Banks face strict requirements around data protection, consent, security, and reporting. The real challenge lies in keeping pace with regulatory timelines, holding third parties and internal systems to same compliance standards, and remaining audit-ready at all times. This is the reality many institutions are navigating today.
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