Is Open Banking safe?

Open Banking provides more safety in terms of risk management and fraud protection as the technical standards required under its guidelines mean that stricter authentication and verification is needed. More so than there exists currently. It is as safe as Online Banking and consumers are also protected under GDPR.

Customers (or end-users) are at the heart of Open Banking and know exactly what data they are sharing and can revoke them at any time.

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Read more about TrueLayer's security policy here and Open Banking here.