Consumer Data Sharing

Securely and reliability sharing consumer financial data between companies can improve consumer financial health, foster innovation and lead to market growth in financial services. Despite this, there are significant challenges to building a common system for data sharing such as unclear regulatory application, competing business interests, and rapidly-changing technology. Today, leadership and coordination are needed from data-sharing stakeholders to develop shared solutions to these challenges.

CFSI has created a set of principles to guide industry actors towards a common system, but more work is needed to develop the implementation details required to turn principles into action. CFSI recommends that market actors take the lead in developing and implementing solutions to ongoing data sharing challenges, with strong support from regulators.

Consumer Data Sharing