Open Finance
Revisiting Open Finance with Cryptographic Privacy and Auditability for extracting maximum social value.
Uncover blind spots in
financial data sharing
Zero exposure
of data in use
86.7% users have a strong preference for having control over data shared
No single point
of failure
70.5% users are assured of privacy when sharing data via formal mechanisms
Purpose
limitation
73.5% users think institutions collect more data than needed
Open Finance today is at a pivotal stage
Silence's impact on Open Finance
Current
Proposed
Access to data
Data Provider
Yes
Yes
Data Fiduciary
Yes
No
Consent Manager
No
No
Service Provider
Yes
Yes
Visibility of insights
Data Provider
No
No
Data Fiduciary
Yes
Yes
Consent Manager
No
No
Service Provider
Yes
No
Compliance & incentives
Incentives / Compensation
for Data Providers
No
Yes
Auditability & Transparency into data usage
for Data Providers
Reactive
Yes
Alternative data sources
for Data Providers
No
Yes
Opt out due to privacy concerns
High
No
Data duplication
Yes
Low
Data misuse/breaches
High
No
Resources
