I recently received a document notifying me about changes to my legacy bank; one thing mentioned was account aggregation and allowing third party providers to give payment instructions and gain information about my account. (I’ll attach it below as it’s easier than explaining it all.)
I don’t mind this as I like the idea of a marketplace bank but from looking at the wording they are using one thing worries me. I am expected to give these companies my actual username, password and memorable information, i.e. my security details!
I’m wondering how Starling will deal with this, what will be used to authenticate back and forth between apps in the marketplace and if the worst comes to the worst (say a company is hacked) can I remove all rights from the app accessing my Starling account?
I know the marketplace isn’t really out yet so you may not be able to answer this in full, but security really is a top concern for me.