FinTechs using open banking APIs to make things easier for consumers and SMEs during COVID-19

With the advent of COVID 19, the huge increase in remote working is a ripe breeding ground for scammers, for example, criminals who pose as banks or solicitors and trick a person or organisation into sending money to a seemingly valid account.

FinTech innovators are playing their part in the fight against crime, using open banking APIs to make things easier and in many cases reduce security risks for consumers and SMEs during the coronavirus pandemic. For a list of initiatives, see openbanking.org.uk.

Payments provider Ordo Pay have launched a new initiative, Ordo Neighbour2Neighbour, making it free for the UK’s volunteers to help out during the COVID-19 outbreak.

https://www.openbanking.org.uk/insights/power-of-the-network/