Open Banking
Compliance Automation
Data Provider
Open Banking Compliance Automation
Getting compliant is hard. Staying compliant is harder. Open banking regulations evolve constantly—CDR updates quarterly, Section 1033 rulemaking is ongoing, PSD3 is rewriting European requirements. Fiskil's compliance automation ensures your data holder infrastructure stays current without dedicated compliance engineering teams.
Ongoing Compliance Costs More Than Initial Implementation
The initial compliance implementation is a one-time effort. But regulations change quarterly, audit requirements accumulate, and reporting obligations grow. Without automation, compliance becomes an ever-expanding cost center.
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Regulatory standards update quarterly or more frequently, requiring engineering sprints each time
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Manual reporting requires dedicated staff during reporting periods, creating bottlenecks
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Audit trail management across multiple systems is fragmented and hard to search
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Standard version updates require engineering sprints that compete with product development
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Compliance gaps emerge between updates, creating risk exposure until the next review cycle
Automated Compliance That Stays Current
Fiskil automates ongoing compliance through standard auto-updates that apply regulatory changes without engineering effort, automated report generation, and continuous gap analysis that catches compliance drift before it becomes a problem.
Capabilities
Key Capabilities
Automated Regulatory Reporting
Scheduled and on-demand generation of regulatory reports. CDR performance reports, Section 1033 compliance attestations, and PSD3 reporting are generated automatically from your production data with no manual data collection.
Audit Trail Management
Centralized, searchable, tamper-proof audit trail across all data sharing activities. Consent events, data access records, and compliance actions are logged in a single system with configurable retention, search, and export capabilities.
Standard Version Auto-Updates
When regulatory standards update, Fiskil applies the changes to your data holder infrastructure. API schema changes, consent flow updates, and reporting format changes are applied automatically with advance notification and rollback capability.
Compliance Dashboard
Real-time visibility into your compliance posture. Health scores, gap analysis, upcoming deadlines, and action items are presented in a single dashboard with drill-down capability into each compliance domain.
Implementation
Implementation Guide
Enabling compliance automation typically takes 1–2 weeks on top of an existing Fiskil Data Provider deployment.
Enable Compliance Dashboard
Activate the compliance dashboard and configure which regulatory frameworks apply to your organization. Set up user roles for compliance team members, configure notification preferences, and import any existing compliance documentation.
Configure Reporting Schedules
Set up automated report generation schedules. CDR requires monthly performance reports; Section 1033 has quarterly attestations; PSD3 has annual compliance reviews. Configure recipients, formats, and distribution channels for each report type.
Set Up Audit Trail Storage
Configure audit trail retention policies, storage backends, and search indexes. Set up tamper-proof storage with cryptographic verification. Configure real-time streaming to your SIEM for security monitoring integration.
Subscribe to Standard Updates
Subscribe to regulatory standard update notifications. Configure auto-update policies: automatic application for minor changes, staging environment testing for major changes, and manual approval for breaking changes. Set up rollback procedures.
Features
Key Features
Regulatory Report Generator
Automated generation of regulatory reports in required formats. Supports CDR performance reports, Section 1033 compliance attestations, PSD3 annual reviews, and custom report templates for internal compliance teams.
Audit Trail Search & Export
Full-text search across all audit trail records with filters for date range, event type, data recipient, consent ID, and data category. Export in CSV, JSON, and PDF formats for auditor consumption.
Standard Change Notifications
Proactive notifications when regulatory standards change. Notifications include a summary of changes, impact assessment, and recommended actions. Delivered via email, webhook, or dashboard notification.
Compliance Health Score
A composite score reflecting your current compliance posture across all applicable regulations. The score factors in API performance, consent flow compliance, reporting timeliness, and audit trail completeness.
Gap Analysis Tools
Continuous analysis of your data holder implementation against current regulatory requirements. Gaps are identified, prioritized by risk, and presented with remediation guidance.
Incident Management
Track and manage compliance incidents from detection to resolution. Includes root cause analysis templates, regulatory notification workflows, and remediation tracking.
"Partnering with Fiskil on our open data needs has been a game-changer for us in delivering and maintaining our data holder solution."
Fahad Liaqat at Pacific Blue
Executive Manager Operations and New Markets
FAQs
Currently supported: Australia CDR (Consumer Data Right), US Section 1033 (CFPB Open Banking), EU PSD2 and PSD3 preparation, UK Open Banking, and monitoring of emerging frameworks including Brazil Open Finance. New regulations are added as they are finalised. You can also configure custom compliance frameworks for internal policies.
Reports can be generated on any schedule: daily, weekly, monthly, quarterly, or annually. On-demand generation is also available through the API or dashboard. Most organizations use monthly reports for ongoing monitoring and quarterly reports for regulatory submissions.
Configurable retention from 1 year to indefinite. CDR requires a minimum of 7 years; Section 1033 is expected to require 3–5 years; PSD3 requirements are evolving. Fiskil defaults to 7 years for financial data sharing audit trails, with automatic archival to cold storage after 2 years to optimize costs.
Minor standard updates (non-breaking changes) are applied within 48 hours of release. Major updates (breaking changes) are staged in a test environment first, with a configurable testing period (default 2 weeks) before production application. Emergency security updates are applied within 24 hours.
Organizations typically report 60–70% cost reduction in ongoing compliance operations. The savings come from automated reporting (eliminates 2–4 weeks of manual effort per quarter), automated standard updates (eliminates 1–2 engineering sprints per quarter), and continuous gap analysis (eliminates periodic manual reviews).
Each jurisdiction is configured as a separate compliance domain with its own requirements, reporting schedules, and update policies. The compliance dashboard provides both a unified view across all jurisdictions and drill-down views for each. Shared infrastructure (audit trails, consent records) is tagged by jurisdiction for accurate reporting.
Yes. Fiskil provides webhook and API integrations for popular GRC (Governance, Risk, and Compliance) platforms including ServiceNow, Archer, and MetricStream. Compliance events, gap analysis results, and report outputs can be streamed to your existing GRC workflow.
Standard updates are tested in a staging environment before production. If a breaking change is detected, the update is paused and your team is notified with a detailed impact assessment and remediation guide. Rollback is available within 24 hours of any production update. Emergency patches can be applied within 4 hours if needed.
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