GDPR
RegulationsGeneral Data Protection Regulation
Definition
The General Data Protection Regulation is a regulation by which the European Parliament, the European Council and the European Commission intend to strengthen and unify data protection for individuals within the European Union. GDPR governs how personal financial data must be handled in Open Banking.
Related Terms
Frequently Asked Questions
What is General Data Protection Regulation?
The General Data Protection Regulation is a regulation by which the European Parliament, the European Council and the European Commission intend to strengthen and unify data protection for individuals within the European Union. GDPR governs how personal financial data must be handled in Open Banking.
What does GDPR stand for in Open Banking?
GDPR stands for General Data Protection Regulation. It is a fundamental concept in Open Banking and PSD2 regulations. The General Data Protection Regulation is a regulation by which the European Parliament, the European Council and the European Commission intend to strengthen and unify data protection for individuals within the European Union. GDPR governs how personal financial data must be handled in Open Banking.
How does GDPR affect Open Banking?
General Data Protection Regulation is a regulatory framework that shapes how Open Banking operates. It establishes requirements for data sharing, security, and consumer protection that all participants in the ecosystem must follow.
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