Notice: amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `pre_get_posts` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the theme with slug `publisher` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/runcloud/webapps/techilive/wp-includes/functions.php on line 5313
Central Bank of Brazil adds data protection to Open Banking rules | ZDNet - TechiLive.in

Central Bank of Brazil adds data protection to Open Banking rules | ZDNet

0

The Central Bank of Brazil has modified the country’s Open Banking framework to add information relating to rights and procedures around consumer data protection.

Through use of open application programming interfaces (APIs), the Open Baking model enables third-party developers to build applications and services around the participating financial institutions, with consumer data shared with their consent.

With the new resolution released by the Central Bank of Brazil last Wednesday (14), five articles of the Open Banking rules in the country have been changed and relate to aspects such as account holder data sharing consent and greater control around updates to data that has been shared.

Loading...

Among the amendments, institutions participating in the Open Banking model will have to, for the purposes of sharing data on the registration of customers and transactions, the data transmitting institution must inform the date and time of the last update of the shared data, as well as the date and time when data sharing took place.

New sections have also been added, in relation to areas such as customer experience (CX). A manual on the subject of CX has been published, outlining requisites around the harmonization of the stages around consent, authentication and confirmation between the Open Banking participants. Another addition includes the creation of an API testing environment.

The Open Banking model in Brazil has been introduced in February 2021 under a phased approach. The first phase was introduced that month, with companies opening data on their service channels and the characteristics of banking products and services through open APIs, with no sharing of data on customer registration or transactional activity.

Loading...

Under the next phase, which starts in July, participants will start sharing customer data, with their consent. This will be followed by the third phase, which kicks off in August, where consumers will be able to pay bills and make money transfers outside their bank’s environment. The final phase is forecast for December, and will see the scope widening to areas such as foreign exchange services, investments, insurance and salary accounts.

Brazil’s data protection regulations were introduced in September 2020, after nearly a month of uncertainty over the actual go-live date of the rules. The board members of the National Data Protection Authority (ANPD), the body responsible for enforcing the regulations, the, were appointed in late October. ANPD released its initial strategy in February 2021.

Loading...

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Technology News Click Here 

Loading...

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechiLive.in is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – admin@techilive.in. The content will be deleted within 24 hours.

Loading...
Leave a comment