> Bad idea. Dealing directly with a regulated bank, you know who to blame...
This is definitely a key factor.
As I mentioned in the blog post, when the customer is using technology provided by the bank, determining who is liable for any losses is relatively straightforward.
When you start adding third parties to the mix, it becomes more complicated. If a customer downloads a snazzy-looking banking app built by criminals who then use their credentials to empty their bank account, who is liable?
This is definitely a key factor.
As I mentioned in the blog post, when the customer is using technology provided by the bank, determining who is liable for any losses is relatively straightforward.
When you start adding third parties to the mix, it becomes more complicated. If a customer downloads a snazzy-looking banking app built by criminals who then use their credentials to empty their bank account, who is liable?