Banks and financial supervisory authorities around the world deliver strict regulations governing the handling of sensitive finance and customer data.
The laws are particularly stringent in Switzerland, Singapore and Luxemburg. PII Data must no leave those countries or be stored in the Cloud without the consent of the customer.
The Open Banking Standard, based on the EU´s Payment Services Directive 2 (PSD2), also obliges banks to secure financial data made available to third-party providers via standardized APIs.
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