Osama Mansour

And when we think about it with the advancements of AI, there is what we call the AI data assemblage.

So you're a fintech, you have advanced AI technology, you could do anything with it.

You could do something like an AI agent,

that could pay your bill if you forget it on your behalf.

The potential is huge, but the risks are also equally huge.

First of all, the idea of open banking, this idea of data access, right?

It promises empowering customers in the sense that you and me can give consent to banks to

So and I agree with you.

And what happens is that when we get access to the data and try to develop services, there are now loopholes in the regulations.

I think you can imagine with me that regulators in Brussels who set these legal frameworks, they don't understand the technical infrastructure behind data access.

So I give you one example.

In Sweden, we use a small app called Kivra.

So I get my, let's say, mobile invoice.

And because of these data access technologies now, I don't need to go to my mobile bank to make the payment of the invoice.

I pay it inside the app, which is actually designed originally to digitalize our communication.

So I get my tax declaration on it, not on paper, right?

But now a third-party company has all your financial data.

Exactly.

So when I pay my invoice, what happens technically in the background is that I'm giving access to this app to go into my account, take out the money and pay the invoice.

The question which echoes what you say is that if I give consent to that app,