The interests of the end user
Posted: Sun Dec 22, 2024 8:27 am
What exactly does the legislator prescribe as of 2018? In short: PSD2 forces banks to make payment accounts accessible to third parties. The expected result is that the financial market within Europe will become a lot more open and new service providers from outside the traditional banking world (take Google) will try to offer financial services. Strong new competition for the banks. And that is expected to result in many new financial services and a lot of ease of use for consumers.
The legislator takes the wheel
The GDPR is designed to improve the protection and privacy of personal data and to give control over personal data back to the individual. Due to its broad applicability (the GDPR applies to any party that processes European personal data) and the hefty fines (up to 4% of annual turnover or 20 million euros) that are imposed for violations, the GDPR keeps many security officers and IT managers busy.
In terms of content, both laws seem to be partly contradictory. The GDPR advocates more privacy and rules for data usage. The PSD2 wants to make this easier to share! But both regulations do have the interests of the end user in mind. Another similarity is that both emphasize the conscious consent of the user.
Thanks to previous 'blunders' such as the cookie legislation (and thanks for the pop-ups) and the dreaded dragnet law, the legislator certainly does not have the reputation among many of uk whatsapp number understanding its role in the digital domain. But let's take a positive look at what the legislator is now coming up with. Maybe the interventions are not so crazy after all.
- Constantijn Smit, Strategist
How do you view these predictions from me and my colleagues? Share your feedback below in the comments. Happy new year!
olumn – In the beginning I had trouble with it too. With the word fractionalize. So here’s a story about it.
Fractionalization is the process of dividing something or someone into different groups or parts. Suppose one bar of chocolate is the whole. If the bar consists of eight by two blocks, you can have sixteen blocks. All fractions.
The House of Representatives has 150 seats. In politics, we don't talk about factions for nothing. Theoretically, there would be room for 150 political parties in the chamber.
There are newspapers that still arrive in the mailbox once a day, six days a week. Everyone knows that the news and the editors do not care about this rhythm. The paper is still chained to the rigid daily rhythm, and at the same time the messages flow out from second to second. The news is offered in ever smaller fractions.
The legislator takes the wheel
The GDPR is designed to improve the protection and privacy of personal data and to give control over personal data back to the individual. Due to its broad applicability (the GDPR applies to any party that processes European personal data) and the hefty fines (up to 4% of annual turnover or 20 million euros) that are imposed for violations, the GDPR keeps many security officers and IT managers busy.
In terms of content, both laws seem to be partly contradictory. The GDPR advocates more privacy and rules for data usage. The PSD2 wants to make this easier to share! But both regulations do have the interests of the end user in mind. Another similarity is that both emphasize the conscious consent of the user.
Thanks to previous 'blunders' such as the cookie legislation (and thanks for the pop-ups) and the dreaded dragnet law, the legislator certainly does not have the reputation among many of uk whatsapp number understanding its role in the digital domain. But let's take a positive look at what the legislator is now coming up with. Maybe the interventions are not so crazy after all.
- Constantijn Smit, Strategist
How do you view these predictions from me and my colleagues? Share your feedback below in the comments. Happy new year!
olumn – In the beginning I had trouble with it too. With the word fractionalize. So here’s a story about it.
Fractionalization is the process of dividing something or someone into different groups or parts. Suppose one bar of chocolate is the whole. If the bar consists of eight by two blocks, you can have sixteen blocks. All fractions.
The House of Representatives has 150 seats. In politics, we don't talk about factions for nothing. Theoretically, there would be room for 150 political parties in the chamber.
There are newspapers that still arrive in the mailbox once a day, six days a week. Everyone knows that the news and the editors do not care about this rhythm. The paper is still chained to the rigid daily rhythm, and at the same time the messages flow out from second to second. The news is offered in ever smaller fractions.