The data a bank has stored on its servers is more valuable than the gold in its vaults. Banks enjoy a monopoly over data that has helped them get away with poor services and fend off competitors. In Europe, at least, that is all about to change with a new set of regulations, named PSD2.
A.Third parties will have to buy fraud insurance B.Regulators have come up with promising solutions C.Banks' defense against cyber attacks is strong D.Third parties will check clients' data monthly