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‘Providers might be trying to scare customers, but rightly so’ – Star Letter 19/01/2018

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  • 19/01/2018
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‘Providers might be trying to scare customers, but rightly so’ – Star Letter 19/01/2018
Mortgage Solutions and its sister title Specialist Lending Solutions select the most thoughtful or thought-provoking comment as Star Letter.

 

This week the accolade goes to Jack Jones for his response to the post: ‘Banks are trying to scare their customers over Open Banking’ – Beaumont.

He said: “Providers might be trying to scare customers, but rightly so.

“Open Banking means giving ‘third parties’ direct access to your current account, and the goldmine of information it contains (let alone the money in it).

“People should be cautious about who they give access to, and will rightly want to know who can see their personal information, what they are doing with it, and more importantly who it is being shared with.

“I’m fed up with the amount of spam emails I get as a result of getting online quotes for insurance (because your details are passed on to all and sundry) so if I give a mortgage broker access to my current account I want to know what they are going to do with that access.”

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