ClickCease

Forbes | Prove CEO Rodger Desai: “Success of open banking hinges on optimal balance of security and CX”

Rodger-Desai
October 18, 2021

In a recent article on Forbes, Rodger Desai, Prove Co-Founder & CEO, wrote about the challenges facing Open Banking implementation globally as well as how banks, merchants, and accredited service providers can ensure an optimal balance between security and customer experience.

Rodger: “It is beyond debate that consent-based sharing of financial data must be accompanied by strong security and data protection. At the same time, conservative authentication practices introduce friction in the process, thereby hampering customer experience. The potential negative impact of strong customer authentication (SCA) on consumer payments experience has been one of the sticky areas in PSD2 compliance in the EU.”

“Companies participating in the open banking ecosystem must ensure the secure exchange of financial information under all circumstances and yet make the experience frictionless for the consumer.”

Read the full Forbes article by Rodger Desai here.

To learn about Prove’s identity solutions and how to accelerate revenue while mitigating fraud, schedule a demo today.

Keep reading

See all blogs
Blog
Navigating Global Compliance: Tackling Identity Verification Across Borders

Demystify the complexities of global identity verification and compliance across regions like GDPR, CCPA, and PSD2. Learn how to navigate varying international regulations and discover how phone-centric solutions from Prove streamline onboarding, reduce risk, and ensure scalable compliance worldwide.

Nicholas DeWald
April 28, 2025
Blog
Developer Blogs
Tools and APIs for Frictionless User Onboarding

Discover tools and APIs for seamless, secure user onboarding that ensures a smooth experience while making accurate customer evaluations.

Shweta
April 24, 2025
Developer Blogs
Developer Blogs
Integrating Customer Due Diligence Workflows: Challenges and Solutions for Developers

Learn how customer due diligence (CDD) verifies onboarded customers to keep your product secure.

Developer Blogs