{"id":18647,"date":"2022-04-22T15:54:40","date_gmt":"2022-04-22T13:54:40","guid":{"rendered":"https:\/\/ebi-europa.eu\/?p=18647"},"modified":"2022-04-22T15:57:36","modified_gmt":"2022-04-22T13:57:36","slug":"publication-working-paper-series-no-112","status":"publish","type":"post","link":"https:\/\/ebi-europa.eu\/publication-working-paper-series-no-112\/","title":{"rendered":"Publication: Working Paper Series No. 112"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"18647\" class=\"elementor elementor-18647\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-acf00b6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" data-id=\"acf00b6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6538e17\" data-id=\"6538e17\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f9b52a6 elementor-widget elementor-widget-text-editor\" data-id=\"f9b52a6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>EBI is happy to announce a contribution of\u00a0<strong>Prof. Douglas W. Arner<\/strong> (University of Hong Kong), <strong>Prof. Ross P. Buckley<\/strong> (University of New South Wales (UNSW)) and <strong>Prof. Dirk A. Zetzsche<\/strong> (University of Luxembourg) in the <strong><a href=\"http:\/\/x0ktk.mjt.lu\/lnk\/AMcAAHZpUu8AAciTVLAAALFeFDsAAYCnvJ0Amy8OAA1-MABiM13p3w7ZY9dHRyO8pD3ebcupDgANb_s\/1\/9dCUKnDql1hTWqh8Xa2ZtA\/aHR0cHM6Ly9lYmktZXVyb3BhLmV1L3B1YmxpY2F0aW9ucy93b3JraW5nLXBhcGVyLXNlcmllcy8\">EBI Working Paper Series<\/a> No.\u00a0112<\/strong>. Their paper entitled <em><strong>\u201cOpen Banking, Open Data and Open Finance: Lessons from the European Union\u201d<\/strong><\/em> was published on 11th November 2021.<\/p><p>Europe\u2019s path to \u2018open banking\u2019, \u2018open data\u2019 and \u2018open finance\u2019 rests upon four apparently unrelated pillars: (1) the facilitation of open banking to enhance competition in banking and particularly payments; (2) strict data protection rules reflecting European cultural concerns about dominant actors in the data processing field; (3) extensive reporting requirements imposed after the Global Financial Crisis to control systemic risk and change financial sector behaviour; and (4) a legislative framework for digital identification imposed to further the European Single Market.<\/p><p>This chapter analyses these four pillars and suggests that together they will underpin the future of digital finance in Europe and that together they effectively establish the framework for not only \u2018open banking\u2019 and \u2018open data\u2019 but \u2018open finance\u2019. These European experiences provide profound insights for other societies facing choices as to the role of data in their future. In some, data will be controlled by a small number of massive firms and governments which use it for profit and suppression. In others, data will be under the control of individuals \u2013 democratized data \u2013 which should support a more open and innovative economy and society. In the evolution of these futures, legal and regulatory systems will play a key role.<\/p><p>To read the entire paper, please follow <a href=\"https:\/\/ssrn.com\/abstract=3961235\">https:\/\/ssrn.com\/abstract=3961235<\/a>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>EBI is happy to announce a contribution of\u00a0Prof. Douglas W. Arner (University of Hong Kong), Prof. Ross P. Buckley (University of New South Wales (UNSW)) and Prof. Dirk A. Zetzsche (University of Luxembourg) in the EBI Working Paper Series No.\u00a0112. &hellip; <\/p>\n","protected":false},"author":3,"featured_media":18250,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":""},"categories":[62],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/ebi-europa.eu\/wp-json\/wp\/v2\/posts\/18647"}],"collection":[{"href":"https:\/\/ebi-europa.eu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ebi-europa.eu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ebi-europa.eu\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/ebi-europa.eu\/wp-json\/wp\/v2\/comments?post=18647"}],"version-history":[{"count":4,"href":"https:\/\/ebi-europa.eu\/wp-json\/wp\/v2\/posts\/18647\/revisions"}],"predecessor-version":[{"id":18651,"href":"https:\/\/ebi-europa.eu\/wp-json\/wp\/v2\/posts\/18647\/revisions\/18651"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ebi-europa.eu\/wp-json\/wp\/v2\/media\/18250"}],"wp:attachment":[{"href":"https:\/\/ebi-europa.eu\/wp-json\/wp\/v2\/media?parent=18647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ebi-europa.eu\/wp-json\/wp\/v2\/categories?post=18647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ebi-europa.eu\/wp-json\/wp\/v2\/tags?post=18647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}