Capitalizing on the CFPB Financial Data Right Rule with Digital Identity

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Presented by

Adam Preis, Director Product Solution Marketing, Ping Identity, Wes Dunnington, Ping Identity, Jamie Bowen, Ping Identity, Paul Heaney, Proof ID

About this talk

Today, around 100 million U.S. consumers have authorized third parties to access their financial data, signaling a transformative shift in data accessibility across financial services. The new CFPB Personal Financial Data Rights Rule creates vast opportunities for innovation and customer empowerment while posing essential data security and privacy challenges. Financial service providers in the U.S. will need to reimagine how to securely manage data access, enable customer consent management, and capitalize on new opportunities within the emerging U.S. open banking landscape. Identity and access management (IAM) is critical for U.S. financial service providers looking to capitalize on this momentous development. Join Ping Identity and distinguished guests to learn more about how converged IAM can help prepare for the implementation of the CFPB Personal Financial Data Rights Rule, by leveraging: -- Financial-grade application programming interfaces (APIs) to move away from screen-scraping, secure customer data, and drive API revenue -- Modernize strong customer authentication (SCA) to safeguard patient privacy, security, and data -- Give customers the power to control third-party data sharing through comprehensive consent management -- Enable data portability through verified credentials, identity verification, and decentralized identity innovation
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