We Need a Global Standard for Data Sharing

In an op-ed in the FT, the chairman of BBVA, Carlos Torres Vila, argues for the expansion of European open banking rules to the broader digital landscape; but he argues that the PSD2 rules don’t go far enough yet because they only apply to payments history; we need a global framework for data sharing across industries, “We need data-sharing across companies in all sectors in a real time, standardised way — not at a speed and in a format dictated by the companies that stockpile user data”. Source.

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