We believe that a current marketplace for consumer finance affected by PSD2 and GDPR risks falling victim to extreme heterogeneities of quality and pricing of consumer financial services and consumer financial products due to conflicting definitions of protected data types and loose requirements for their handling - between directives - and that only a mechanically and centrally harmonized GDPR and PSD2 marketplace for personal privacy data could create the positive externalities and market conditions the European Commission is seeking through PSD2. This, in our view, opens a new opportunity for practical applications hitherto unseen in the financial markets, with a special focus on “RegTech” applications in praxis (regulatory technology innovation).
Notes:
Capstone (EMBA)--IE Business School and Brown University, 2018
Copyright by the authors. This work is licensed under a Creative Commons Attribution 4.0 International License
Citation
Bogatov, Alexey, Fine, Allen, and Gaute, Solaas,
"On PSD2 and GDPR Harmonization"
(2018).
IE Brown Executive MBA.
Brown Digital Repository. Brown University Library.
https://doi.org/10.26300/2hdr-ff80
IE Brown Executive MBA integrates innovative management skills with the human sciences and practical business studies. The curriculum is designed for executives who seek to inspire those around them and disrupt the future of business. The program develops key skill …
