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Home Is Open Banking a fraud?
22 Apr 2022 By PAYCEC
Absolutely NO.
Open Banking has been designed with security at its heart. It is a legitimate agreement between banks and financial institutions across the economy of the European Union or the UK or transposes to national law in other financial networks namely Singapore, Hong Kong, South Korea or Australia. In this consent between all participants, members enable third-party access to their customer banking data through open API in a secure manner.
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