What are Permissions & Data Clusters in the context of Open Banking / Open Finance and why are they so important?

Grouping related data into clusters is a helpful way to make data-permissioning easier to understand and enable for end consumers.<br/><br/>

By way of example, the OBIE identifies the following data clusters relating to account information services that could be offered to a customer for approving consent for third-party access:<br/><br/>

- Your account details;<br/><br/>

- Your regular payments;<br/><br/>

- Your account transactions;<br/><br/>

- Your statements;<br/><br/>

- Your account features and benefits;<br/><br/>

and,<br/><br/>

- Your contact details.