API attacks: Public APIs are at the heart of Open Banking Niue Email List, allowing authorized third parties to access users’ bank details to provide innovative new financial services. Implementation flaws in these APIs will allow attackers to exploit back-end servers to steal data.
Attacks on FinTech companies: users will be forced to establish a new relationship of trust with suppliers that may have fewer resources than their banks and have no data protection record. In a quick survey of Open Banking FinTechs, Trend Micro found that they have an average of 20 employees and no dedicated security professionals.
This makes them ideal targets for attackers and raises security concerns in their mobile apps, APIs, data sharing techniques, and security modules that could be improperly implemented Gulf Phone Number List.