BioCatch Lays Out PSD2’s Open Banking Security Issue

While it’s undoubtedly seen as a regulatory obstacle by many organizations, the European Union’s PSD2 is helping to pave the way for open banking, requiring financial institutions to allow Third-party Payments Providers, or TPPs, to interface with them via APIs. This represents an opportunity to foster greater fluidity and convenience in banking for consumers, but as BioCatch warns, it’s also an opportunity for fraudsters.

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