Key facts about Certified Professional in Open Banking Platform Regulatory Compliance
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A Certified Professional in Open Banking Platform Regulatory Compliance certification equips professionals with the in-depth knowledge needed to navigate the complex landscape of open banking regulations. This crucial certification covers key aspects of data security, customer privacy, and API security within the open banking ecosystem.
Learning outcomes for this program typically include a comprehensive understanding of relevant regulations like PSD2 (Payment Services Directive 2) and GDPR (General Data Protection Regulation), as well as best practices for compliance. Participants gain practical skills in risk management, audit preparation, and the implementation of secure API design and management for open banking platforms.
The duration of the program varies depending on the provider, but most programs are designed to be completed within a few weeks to a few months of focused study, often involving a blend of online learning modules and practical exercises. The program often culminates in a rigorous examination to assess mastery of the subject matter.
In today's rapidly evolving financial technology landscape, a Certified Professional in Open Banking Platform Regulatory Compliance certification is highly relevant. This professional designation demonstrates a commitment to adhering to industry standards and best practices for data protection, significantly enhancing career prospects within the open banking, fintech, and banking sectors. It signifies expertise in areas such as API security, financial regulations, and risk mitigation, making certified professionals highly sought after.
The certification provides a competitive edge by showcasing a deep understanding of open banking compliance requirements, including those related to consent management and data breach response. This is essential for individuals aiming to advance their careers in roles such as compliance officer, security architect, or data protection officer within institutions operating in the open banking space.
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Why this course?
Certified Professional in Open Banking Platform Regulatory Compliance is increasingly significant in the UK's rapidly evolving financial landscape. The Open Banking Implementation Entity (OBIE) reported a surge in open banking adoption, with over 6.5 million users in Q4 2022. This growth underscores the urgent need for professionals with expertise in navigating the complex regulatory framework surrounding open banking. The UK's Competition and Markets Authority (CMA) mandates stringent compliance measures, making the Certified Professional designation crucial for ensuring data security, customer protection, and adherence to regulations like PSD2.
The following chart illustrates the projected growth of Open Banking users in the UK:
| Year |
Projected Users (millions) |
| 2023 |
7.2 |
| 2024 |
8.5 |
| 2025 |
10.0 |