Rethinking the Right to Data Portability in the Transition from Open Banking to Open Finance in the EU

Amidst the transition from Open Banking to Open Finance across the European Union (EU), this insightful book delves into how individuals' control over their data is impacted. With Open Banking reshaping data sharing, the EU seeks to extend this model to sectors like insurance through Open Finance. The research examines how this shift affects the Right to Data Portability (RDP), giving users the ability to manage and transfer their data among financial service providers. Through qualitative analysis, it clarifies the dynamics between RDP, Open Banking, and Open Finance. Chapters trace the regulatory evolution, explore standardization efforts like the 'SEPA API Access Scheme', and address challenges such as defining data categories and legal processing grounds. The book advocates for a user-centric approach to Open Finance regulation, emphasizing trust and privacy in the digital financial landscape. Texto de contracapa: Amidst the transition from Open Banking to Open Finance across the European Union (EU), this insightful book delves into how individuals' control over their data is impacted. With Open Banking reshaping data sharing, the EU seeks to extend this model to sectors like insurance through Open Finance. The research examines how this shift affects the Right to Data Portability (RDP), giving users the ability to manage and transfer their data among financial service providers. Through qualitative analysis, it clarifies the dynamics between RDP, Open Banking, and Open Finance. Chapters trace the regulatory evolution, explore standardization efforts like the 'SEPA API Access Scheme', and address challenges such as defining data categories and legal processing grounds. The book advocates for a user-centric approach to Open Finance regulation, emphasizing trust and privacy in the digital financial landscape.