Open Banking vs Data Protection

Enforce granular, auditable consent flows and API-level access controls to share data with third parties without compromising customer privacy.

CyberTRIZ analysis · Regulatory contradiction R168 · one of 8,235 worked contradictions published by CyberTRIZ.AI

Regulations

EU_GDPR EU_INSTANT_PAYMENTS_REG_2024 ISO_27001 NIST_PRIVACY_FRAMEWORK EU_NIS2

Overview

PSD3 encourages secure data sharing between financial institutions and authorized third-party providers, while customers expect their financial information to remain protected. RegulatoryTRIZ resolves this contradiction by implementing consent management, secure APIs, encryption, and continuous access monitoring. Compliance is demonstrated through consent records, API security documentation, and access logs, while effectiveness is measured through API security incidents and consent management accuracy.

Controls that address this (22)

EU_GDPR-CTRL-001 - Daily safeguarding reconciliationoperational · critical priority · Daily reconciliation between safeguarded customer balances, core ledger balances and safeguarded bank accounts. Variances above EUR 100 must EU_GDPR-CTRL-002 - Critical ICT incident reportingoperational · critical priority · All major ICT incidents impacting payment services, customer data or availability must be classified within 4 hours and reported under DORA EU_GDPR-CTRL-003 - GDPR breach notification workflowoperational · critical priority · Personal data breaches must be assessed within 12 hours and reported to the Belgian DPA within 72 hours where risk to data subjects exists.