Data-driven Business Models & Data Sharing in Finance

Dates

18/03/2024 - 21/03/2024

Level

Advanced training

Delivery mode

Residential

Course materials (registered participants only)

The course will start with a focus on digital transformation and platform integration within the financial services sector. In-depth lectures will explore the emerging data-driven business models of FinTechs, BigTechs, and traditional financial intermediaries, assessing their alignment with existing regulatory structures and addressing issues related to customer protection.
The second segment of the course will focus on the regulatory landscape and the evolving industry demands in the realm of Open Finance. While PSD2 has set the stage for Open Banking by outlining payment data sharing guidelines, the Commission has recently proposed a new framework for Financial Data Access which sets out clear rights and obligations to manage customer data sharing beyond payment accounts. Moreover, there is still a need for implementing a unified API standard and data-sharing protocols to fully unlock
the potential of embedded finance. The course will navigate the technical complexities of Open Finance implementation across all financial sectors, addressing aspects such as data standardization, cross-border integrability, digital identity, and the role of non-financial data, considering the recent regulatory initiatives proposed at EU level.

Data-driven business models
Economics of Data Sharing: Incentives and Market Failures
Customer protection and digitalisation
The design of future Open Finance: Open Insurance, Open Banking and beyond – a cross sectoral overview
The key technical challenges:
- API and data standardisation and Cross border interoperability
- The use of non-financial data
Data and regulations
The role of digital identity in Open Finance and the potential of the new EU digital identity

Essential
Adequate experience in financial regulation and supervision

Recommended
Prior exposure to API technology and/or data sharing policy

Residential training weeks will take place within the premises of the European University Institute.

Participants are responsible for arranging both their travel and accommodation for the residential weeks in Florence.
FBF will reimburse the cost of their travel up to a given ceiling (economy class for flights on dates close to the event – max two days before and after the course) and a total of EUR 100 for taxis. Participants will also receive a daily allowance to cover accommodation expenses, up to a certain limit and for a maximum of 4 nights (with check-in on Sunday and check-out on Thursday).
Reimbursements will be processed after the training has ended and will require presentation of relevant invoices and receipts.
To help participants travel to and from the event venue, FBF will provide a private shuttle bus from/to the city center every day.
FBF will also provide light lunches and coffee breaks during the training days and one or two evening social activities per week.