Consumer Data Sharing

While consumers have more power than ever over the data they need to manage their finances, high-profile breaches and a lack of effective policy solutions raise critical questions about consumer privacy and protection. That’s why the Financial Health Network has created a set of principles to guide the financial services industry as it works to establish a secure, inclusive, and innovative data-sharing ecosystem.

Understanding Consumer Data Sharing and Financial Health

In our consumer data sharing work to date, the Financial Health Network has uncovered several key findings:

  • The lack of an effective policy framework for financial data sharing in the U.S. creates industry uncertainty and inadequate protection for consumers.

  • While bilateral agreements to share data through APIs provide security and reliability, access and protection for consumers can vary significantly.

  • Businesses and regulators must collaborate not only to ensure that consumers have consistent, secure, and reliable access to their financial data, but also to support continued innovation in this area.

The Financial Health Network’s Data-Sharing Principles

Why Consumer Data Sharing is Important to Providers

Creating an effective framework for consumer data sharing will lead to a more secure and innovative financial services ecosystem, ultimately helping consumers achieve greater financial health.

How We Can Help

Through our research and membership base, the Financial Health Network provides insights and connects innovators seeking to develop policy and industry-led solutions to data sharing challenges.

Explore All Related Research

Additional Research Topics

Financial health depends on a complex set of factors and circumstances. That’s why the Financial Health Network produces research in a variety of areas impacting our financial lives.