In simple terms, this is a set of rules for better protecting European citizens’ data. 💪
Cake exists thanks to the General Data Protection Regulation (GDPR) and the Payment Services Directive version 2 (PSD2). 🍰
The GDPR basically determines the “right to data portability”. Whereas PSD2 provides the legal framework through which a customer can run their transaction data through another party (such as Cake).
In other words, this legislation puts you in control of your own banking data. 👍