Open banking is the perfect alternative to micro-deposits, Nordigen says

Micro-deposits have long been used as the main method for bank account ownership verification and customer identification. The process works by transferring small amounts of money to or from a bank account to verify that a person owns this account.  Even though the process is simple, it’s far from ideal, especially considering the alternatives currently available. Micro-deposits can work in two ways: when a company makes a transfer to a […]