Konsentus’ Brendan Jones joined the Open Banking Excellence Campfire on Thursday 16th June to discuss security and fraud in Open Banking.
With APIs, encrypted data transfer and reduced information sharing, security is always at the core of Open Banking. However, as the ecosystem grows, it’s inevitable that fraudsters and scammers will present new challenges for the financial industry.
- Is Open Banking fool-proof and secure when it comes to leaks, hacks and fraud?
- What are the risks involved when personal data moves across different sources?
- Does the consumer understand their rights and responsibilities around ‘Consent’?
- If fraud occurs where does the risk and responsibility lie?
The industry experts shared their valuable insights, use cases and opinions.
Ali Paterson, Editor-in-Chief at FF News | Fintech Finance
Brendan Jones, COO at Konsentus
Chris Michael, CEO & Co-Founder at Ozone API
Mike Haley, CEO at Cifas
Michael Huffman, Director of Fraud at GoCardless