Is open banking still worth it despite security concerns?

Open banking was simply Europe's answer to increased financial industry competition. Although the PSD2 law was enacted to protect privacy, I disagree that open banking and privacy could go hand in hand at this point.

PSD2 is evidently lacking methodology. It only indicates what banks need to do without setting out how they need to accomplish it, allowing them to take advantage of the situation.

Eventually, these institutions would have no problem accessing their customers' data in their systems, …

banking open banking privacy security