Comment: MICHAELWEST.COM.AU blew the lid off the fintech conjob overnight and the sector may struggle to recover.
‘FinTechs harvest bank details and passwords, can sell them too’ was the headline on the story from Manal al-Sharif about “aggressive data harvesting techniques” that are now in the spotlight following the Optus hack.
Zip, Ezidebit, RAIZ, Tiger Brokers and Eftsure are the outfits highlighted in the story but the number of culprits may soon run into the hundreds. And the finger is pointed at ANZ as just one example of banks at best “looking the other way” as customers share sensitive information, potentially including their CRN and login credentials, with third party companies.
The list of major banks swayed by this nonsense will lenghten and hats off again MICHAELWEST.COM.AU.