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PYMNTS: Safeguarding data is ‘foundational to accelerating innovation’

Finicity CEO Steve Smith testified before the House Committee on Financial Services FinTech Task Force on Tuesday, Sept. 21. He cited open banking powered by data aggregation as the game changer that flipped the data experience to one that empowers consumers and small and midsize businesses with access, control and the consented use of data.

As it continues to emerge, policy makers “will play a meaningful role in the direction and pace of this transformation by providing clarity on data protection expectations, data privacy requirements and consumer data rights.”

You can read the summary of his testimony at PYMNTS or you can watch the full hearing on C-SPAN.