英文摘要 |
The wave of open banking holds great potential to enhance consumer data autonomy, promote competition and innovation in the financial system, and give rise to consumer data empowerment. However, the realization of such a vision depends on the solution of a difficult regulatory issue: the criteria for a third-party provider that is permitted to access data from banks upon the consent and request of consumers. This in fact begs the fundamental question of how a government should treat and regulate third-party providers in the context of open banking. This article argues that the third-party providers can be understood as“data fiduciaries”in that they are entrusted by the consumer to process and provide extra value to their data. This article further explores and proposes three possible regulatory coordinates for data fiduciaries based on two dimensions: ecosystem boundary and institutional attribute. Specifically, the three types of regulatory coordinates are fiduciaries and cooperators in the banking ecosystem, special financial information service providers in the financial ecosystem, and chartered data recipients in the digital economy ecosystem. This article also proposes a two-stage legal/policymaking strategic pathway for Taiwan with the hope to develop a more delicate conversation between regulators, industries and the academia.
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