Two years ago, opportunity for the FinTech community was abound with the arrival of Open Banking. And while the initial uptake was slow to materialize, we are now finally realizing the potential of an application program interface (API) integration as 2020 gets underway.

But as we celebrate the second anniversary of Open Banking, Mark Taylor explains to Payments Cards & Mobile how fraud is becoming a major concern for financial institutions considering partnering with start-ups and smaller FinTech firms. Criminals are seeing Open Banking as a means of gaining easy access to millions of consumers’ banking and personal information.

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