The age of open banking is still in its infancy. For years, fintech companies have collected consumers’ bank data when they willingly hand over their bank credentials to use a service. However, only a handful of banks are sharing financial data with third-party developers through a more secure and modern method: application programming interfaces. Some…
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Earlier this year, the Consumer Financial Protection Bureau called for comments on the many issues associated with how consumers share bank account data with third-party companies like Intuit’s Mint or Kabbage. In response, leaders at financial institutions generally expressed concern about potential security breaches while fintech companies generally supported the demands of consumers having access…
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Not only is the holiday season the busiest and most profitable time of year for retailers, it’s also the most lucrative season for fraudsters. It’s easy to feel helpless. Fraudulent transactions and chargebacks can have a serious impact on your business: in 2016, e-commerce fraud grew by 31% during the holidays, costing merchants 7.5% of…
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