Secure Horizons: Strategic Customer Data Management in the Open Banking Evolution

Puneet Matai

Abstract: The whitepaper provides an overview of strategic customer data management within the evolving landscape of open banking. It explores the origins, principles, and global trends of open banking by emphasizing the critical role in enhancing customer experience. The paper identifies the key challenges in customer data management and shares the best practices as well as a case study on Visa for secure data sharing. Furthermore, it outlines regulations and compliance strategies for financial institutions. Finally, the paper discusses emerging trends and technological advancements offering insights into the future of open banking and customer data management.

Keywords: Open Banking, Customer Data Management, Financial Services Industry, APIs, Data Security, Regulatory Compliance, Innovation, Fraud Detection, Blockchain Technology, Personalized Financial Products

How to Cite?: Puneet Matai, "Secure Horizons: Strategic Customer Data Management in the Open Banking Evolution", Volume 12 Issue 7, July 2023, International Journal of Science and Research (IJSR), Pages: 2289-2292, https://www.ijsr.net/getabstract.php?paperid=SR24628112703, DOI: https://dx.doi.org/10.21275/SR24628112703