• How do financial institutions acknowledge consumer privacy while still addressing payment data regulations?
• What are consumer expectations when it comes to data privacy? How should these expectations be managed in communications with consumers?
• How can payment facilitators maintain trust and transparency in the current complex payments ecosystem?

In the era of digital payments platforms in which financial institutions hold pools of personal data it is critical that firms retain consumer trust. This data is often leveraged by integrated third party platforms to enable open banking and embedded finance features. As the level of risk and responsibility tied to that data increase, trust and governance must follow suit.

Cardholder trust is imperative across the payments landscape of nonbank entities, meaning that banks must ensure transparency in their actions and make reliable partnerships. In a complex ecosystem made up of numerous players it is essential for firms to guarantee that consumer rights are protected. When data is shared improperly there is a risk of security breaches and violating compliance and data privacy guidelines.

In the context of the current capabilities of the sector when it comes to security, authentication, and consumer protection, banks need technology that can embed trust into every connection and make a cohesive and seamless experience for the consumer.

Sign up for this Finextra webinar to join our panel of industry experts who will discuss how trust can be ensured between partners and cardholders to maintain safe data sharing and protect consumers.