Citizens Bank just gave businesses a less risky way to share their financial data

2025-04-29T17:06:49Z Banks can face security risks when customers share their financial data using third parties. Citizens Bank built a tool designed to let clients securely and efficiently share data. This article is part of "Build IT: Connectivity," a series about tech powering better business. Banking customers often share their financial data on external platforms, such as budgeting tools and accounting software, to help them manage their money.But for financial institutions, giving out that data can come with security risks.One popular way to transfer banking data to other applications is "screen scraping," in which a bank's customers share their login credentials with a third-party app that then mimics user behavior to pull financial data onto the external platform.Taira Hall, the head of enterprise payments strategy at Citizens Bank, told Business Insider the practice poses several risks to customers. Cybercriminals can exploit the third-party app to gain access to the customer'...