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A bottleneck for open banking
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Cañon, Carlos and Ng, Irene C. L. (2021) A bottleneck for open banking. Working Paper. Coventry: WMG; University of Warwick. WMG Service Systems Research Group Working Paper Series (02/21).
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WRAP-Bottleneck-open-banking-Ng-2021.pdf - Published Version - Requires a PDF viewer. Download (1974Kb) | Preview |
Abstract
We discuss a critical bottleneck of any Open Banking initiative that forces market participants to share granular-level information from their clients. We argue in favor of realigning property rights of personal data with individuals, such that they can monitor, administer and understand pecuniary and non-pecuniary compensations from third-party usage. Finally, we present a novel decentralized technology capable of overcoming the bottleneck.
Item Type: | Working or Discussion Paper (Working Paper) | |||||||||
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Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HG Finance K Law [Moys] > KN Common Law, Private Law Q Science > QA Mathematics > QA76 Electronic computers. Computer science. Computer software |
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Divisions: | Faculty of Science, Engineering and Medicine > Engineering > WMG (Formerly the Warwick Manufacturing Group) | |||||||||
Library of Congress Subject Headings (LCSH): | Banks and banking , Privacy, Right of , Application program interfaces (Computer software), Financial services industry, Right of property | |||||||||
Series Name: | WMG Service Systems Research Group Working Paper Series | |||||||||
Publisher: | WMG; University of Warwick | |||||||||
Place of Publication: | Coventry | |||||||||
ISSN: | 2049-4297 | |||||||||
Official Date: | 29 November 2021 | |||||||||
Dates: |
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Number: | 02/21 | |||||||||
Number of Pages: | 17 | |||||||||
Institution: | University of Warwick | |||||||||
Status: | Not Peer Reviewed | |||||||||
Publication Status: | Planned | |||||||||
Access rights to Published version: | Open Access (Creative Commons) | |||||||||
Date of first compliant deposit: | 29 November 2021 | |||||||||
Date of first compliant Open Access: | 29 November 2021 | |||||||||
RIOXX Funder/Project Grant: |
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