Skip to main content

Banks and fintechs at war over password sharing | afr.com

xxx

Micro investment company Acorns has accused ANZ Banking Group and other banks of telling customers they can't share account passwords with the start-up, retarding its growth. 

From Banks and fintechs at war over password sharing | afr.com

The article calls password-sharing a “grey area”, which it really isn’t, since both bank procedures and common sense security practice should tell us that giving _anyone_ a password (which ought not to be thought of as any form of security at all) to a third party is dangerous. When they get hacked, you get hacked.

Comments

Popular posts from this blog

Euro area card payments double in a decade

xxx "The number of card payments in the euro area have more than doubled in a decade as consumers increasingly dispense with the hassle of carrying notes and coins, according to the latest statistics from the European Central Bank. In 2018, card payments accounted for almost half of the total number of non-cash payments across the single-currency area. Credit transfers and direct debits were the second and third most common non-cash payment methods, accounting for approximately 23% each, while e-money and cheques together made up around seven percent. However, the relative popularity of each type of payment service still varies widely across euro area countries. In 2018 card payments accounted for just over 70% of all non‑cash payments in Portugal, compared with around 23% in Germany. The stats show that the number of card payments made by consumers and businesses has more than doubled in the last decade, with an average of 121 card payments per capita in 2018, compared with