FDATA Adds Identity Verification Expert to Board [US]

The Financial Data and Technology Association (FDATA) has appointed Kat Cloud to its board of directors, bringing identity verification and data access expertise to the trade body representing over 30 fintech firms across the US and Canada.

Cloud, who leads government relations at Sumsub, focuses on identity verification, fraud mitigation, and secure digital onboarding. Her work involves shaping global standards with regulators including INTERPOL, the World Economic Forum, the Monetary Authority of Singapore, and the Financial Conduct Authority.

"As open banking and open finance continue to evolve, it's essential that data access frameworks are paired with strong identity and security protections," Cloud said.

Why This Matters

CFOs dealing with open banking implementations face mounting pressure to balance innovation with compliance. Identity verification sits at the intersection of customer onboarding, fraud prevention, and regulatory reporting. Getting it wrong means fines. Getting it right means operational efficiency.

Cloud's appointment signals FDATA's focus on pairing data access with security standards. Steve Boms, FDATA's executive director, noted her experience will be "critical as policymakers across North America work to modernise open finance frameworks while safeguarding consumers."

The Data Governance Context

Financial institutions are accelerating AI-driven compliance tools amid rising regulatory demands for granular data. Accurate data reconciliation cuts regulatory fines by ensuring transaction reports match internal records. Meanwhile, data mesh architectures promote domain-driven governance, ensuring trustworthy datasets for self-serve access by finance teams.

The challenge remains: siloed systems hinder accessibility, requiring investment in quality data infrastructure. Collecting more data offers no edge without effective governance.

For finance professionals navigating open banking implementations, identity verification standards will shape everything from onboarding costs to fraud exposure. Cloud's regulatory fluency across multiple jurisdictions suggests FDATA is positioning itself for cross-border data access frameworks, not just domestic compliance.