Open banking and fraud prevention — real improvement or just hype?
A friend of mine once had his account frozen because someone tried using stolen card details — total mess. It made me wonder: do open-banking payments actually make it harder for scammers, or is it just another layer that shifts the problem somewhere else? I’d love to hear from people who’ve actually seen the difference in real use, not just marketing talk.
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Good question — and I totally get your skepticism. I used to manage payment security for a mid-size casino brand, and fraud was a constant headache. After we switched to open-banking integrations, the number of fake deposits and chargebacks dropped dramatically. There’s a great article that breaks down why that happens: https://flixpress.com/how-open-banking-is-blowing-up-igaming/. Basically, since open banking connects directly to verified bank accounts, you don’t get stolen card issues — the funds come straight from the real owner’s account. Plus, you can add real-time identity checks without annoying the player. Honestly, it’s one of the few changes that lived up to the hype.