Learning Objectives:

  • Understand the compliance requirements of open banking.

  • Analyse data access and sharing frameworks.

  • Explain the role of third-party providers in open banking.

  • Understand the governance and oversight of open banking ecosystems.

2.1 Open Banking Frameworks

The HKIB syllabus covers “Open Banking and Open API” and “Worldwide development – UK, EU, Singapore, Australia, Japan and China” as core topics . The ADGM Academy programme covers “Open Banking Programme” and “global market trends, regulatory shifts, and best practices for driving innovation and value creation through open finance models” .

Key Components of Open Banking Compliance:

  • Third-Party Provider Regulation: The ADGM Academy programme covers “the roles of third-party providers within the Open Banking ecosystem” .

  • API Standards: The HKIB syllabus covers “The HKAB common baseline for TSPs + examples” and “The HKAB phase III standards” .

  • Customer Consent: The Manchester University module covers “Data portability and open banking” .

  • Data Sharing Agreements: The ADGM Academy programme covers “data-sharing principles” .

2.2 Data Sharing and Portability

The Manchester University module covers “Data portability and open banking” as a core topic . The HKIB syllabus covers “Open Government, Open Banking, Open API” and “Open Government – Open Data Portal and APIs” . The ADGM Academy programme covers “the opportunities that international data standards can provide and how you can benefit from them” .

Key Data Sharing Considerations:

  • Customer Consent: The LSBA programme covers “Consumer Protection and Fair Practices” .

  • Data Security: The LSBA programme covers “Cybersecurity and Risk Management in Digital Banking” .

  • Data Governance: The ADGM Academy programme covers “data-sharing principles” .

  • Third-Party Risk Management: The HKIB syllabus covers “The HKAB common baseline for TSPs” .

2.3 Open Banking Ecosystem Governance

The ADGM Academy programme covers “the strategic pillars of open banking” as part of its curriculum . The HKIB syllabus covers the “Open API ecosystem” including “Repository – Science Park Data Studio” and “APIX Open API Exchange Platform” .

Key Governance Elements:

  • Regulatory Oversight: The LSBA programme covers “Regulatory Technology (RegTech) and Compliance Tools” .

  • Standards and Protocols: The HKIB syllabus covers “The HKAB phase III standards (Technical, User experience, Customer authentication, Data, InfoSec and Operation)” .

  • Third-Party Provider Management: The HKIB syllabus covers “Sandbox arrangement” .

  • Customer Protection: The LSBA programme covers “Consumer Protection and Fair Practices in Digital Financial Services” . .

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