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Data Driven Disruption in Banking: Interview with Onur Simsek

It is all about data these days. It’s relevant for everyone, not just the financial sector. What is your opinion about the position of banks in current data sharing landscape?

Absolutely. In the coming years, banking will be fundamentally different from the way we have always known it. The new currency of the digital economy will be data.

As a result of UK Open Banking and PSD2, consumers will gain a new level of control over how their data is used, and by whom. This, in essence means that banks will no longer have full ownership of financial data, as they always have, something that may look like it could pose a serious threat to current banking business models, but far from it; it also creates many opportunities for banks to leverage the data they have.

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Topics: digital banking, financial data, data industry trends, alternative data, data analytics, Data Security, Big Data, Data Privacy, Company Culture

Author: Aoife Crean - Content Manager on Apr 11, 2018

Banks and Sensitive Data

When I started working in FinTech, the first question I had was: "Do banks seriously give us all that data to analyze?" To be honest, I was mainly concerned about my own privacy instead of dreaming about the benefits I could get by giving some of my information to third parties.

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Topics: FinTech, API, Big Data, Data Privacy, Data Security, Innovation, Financial Regulation

Author: Pablo Reyes, Software Engineer on Jun 8, 2015

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