Why Open Banking Demands A Collaborative Workforce
The forthcoming General Data Protection Regulation (GDPR), a contract of trust between the customer and bank, brings new levels of complexity and compliance. At stake is the risk of sharing personal financial data with third parties. Yet, via APIs, customer information makes its journey across an increasingly omni-channel landscape. How will you comply with the regulation-heavy framework in a way that doesn’t compromise the speed and agility now expected?
In this March 2018 Financial IT article, Richard Price, Head of Financial Services Practice, TIBCO, sets out two overarching criteria for ensuring organizational-wide collaboration for meeting the new data management challenges.
If you are looking for a background on open banking also see: What is Open Banking?