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General Data Protection Regulation (GDPR)

What is GDPR (General Data Protection Regulation)?

The General Data Protection Regulation is an EU-wide regulation that aims to strengthen and unify data protection for individuals within the European Union. The GDPR is important in the context of open banking because it provides stringent regulations for how and how long companies are allowed to store their customers’ personal data. It also ensures the right to be forgotten. This poses additional requirements for Fintechs.

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