“This is different to the Facebook or Twitter world. If Twitter goes down for half an hour nobody really cares, but if someone has access to my bank account and sends my money elsewhere that I wasn’t expecting, that’s clearly a problem,” Mastercard’s UK director Jim Wadsworth voiced his concerns around Open Banking.
On PaymentEye this week, Tink, Nordea and Mastercard weigh in on the issue of accountability as the UK’s banking industry enters the brave new world of open APIs and inter connectivity. If things go wrong, is it the small fintech or the bank that “holds the Open Banking baby”?
Elsewhere, the Fintalk podcast returns with the head of legal and regulatory affairs at PPRO discussing money laundering and how to identify would-be launderers.
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