Open Bank CWC is an independent group of volunteers, constituted from the Foundation's open community.
The role of the Open Bank CWC group is to track and document, and further advise advancements in the public regulations, as well as directives by the Financial Supervisory authorities (of a relevant jurisdiction). The role of Open Bank mostly concerns the monetary policies, public records digitisation practices and data privacy laws of a "local jurisdiction".
Open Bank CWC plays an important role in shaping the community's opinion and advisory position, which the Foundation takes on public interest issues related to Banking, Financial Services and Insurances(BFSI), the Internet, and Data laws.
Members with the following background generally constitute Open Bank CWC:
Members with an active background and practice in banking, financial services and insurances(BFSI) sector.
Members with a legal research background - corporate, business law, international law, tax treaties and trade treaties between governmental and inter governmental economic bodies from the UN member states.
Members with an active research background in a local jurisdiction's monetary policies (laid down by Central banks and other financial services supervisory authorities).
Members with an active research background in a local jurisdiction's data privacy laws.
Open Bank CWC is an Independent CWC, a group of volunteers from the Foundation's open community.
Read on what role an Independent CWC plays in Foundation's community.
Read CWC Nominations Guide for Independent CWCs.
Core Functions of Open Bank CWC:
To prepare Foundation's research and capital advisory position on a subject of public monetary policy and data privacy laws.
Assist Legal Committee, Regulations Committee and Steward Groups or other constitutional bodies of the Foundation in preparing, filing and executing legal actions on behalf of the Foundation's citizens.
Open Bank CWC closely works with community members for protection of their data privacy rights, suggestions for best practices and standards on dynamic regulations in both local and global jurisdictions.
Open Bank CWC empowers regulatory advice to governmental and inter governmental monetary agencies, in the form of Open Research and public discussion papers. Members from the Open Bank CWC drafts public discussion papers and release them on the Foundation's Open Research portal.
Open Bank CWC empowers Foundation's position of advisory on the public interest litigations, relevant to securities exchanges, blockchain, digital currencies, inter bank messaging systems, financial crimes etc.