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Fintech independence: Why Australia should beat, not copy flawed UK open banking | afr.com

Danny Gilligan, co-founder and managing director of the Westpac-backed Reinventure Group in Australia put forward a similar criticism recently, saying that "the fundamental flaw of the UK's open banking model is to stipulate the flow of raw, sensitive transaction data from high security banks to low security fintechs” arguing that that is building systemic risk into the UK's digital economy.

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