What do you know about Open Banking?
Overall, while open banking promises tantalising benefits, it is important to be aware of the risks involved especially now that the CBN has given a nod to it.
You must note that when you share your banking information with third-party providers, you just might be giving up some degree of control over your financial data.
Therefore, Consumertrics recommends that you should carefully evaluate the risks and benefits of using third-party providers to ensure, you are comfortable with the level of risk you are taking on. You should also take steps to protect your account, such as regularly monitoring your accounts for unusual activity and only sharing your banking detail with reputable providers, if you must embrace the open banking system.
In this detailed chat on Channels TV, “Business Morning,” Watch Mr. Muyiwa Ayojimi, CEO, Consumertrics Nigeria, flesh out all you need to know about the open banking technology…
Please SHARE to help other bank customers steer clear from hackers and scammers in the name of open banking. Thanks.
