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. 👍

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