How secure is Open Banking?

Open Banking was spearheaded with the hopes of mitigating security issues with customer data and providing consumers with a wide range of financial options.
Our Open Banking service provider is FCA authorised and regulated.
They have been awarded Cyber Essentials certification, a government-backed cyber security certification.
Unlike other antiquated screen scraping technology Credit Kudos do not hold onto passwords or other sensitive information. Anything that is stored is kept under lock and key using TLS 1.2 with Extended Validation SSL.
Our Open Banking Service Provider has confirmed that they use dedicated, read-only interfaces provided to them by the banks because they are a fully-authorised Account Information Service Provider (AISP) under the Payment Services Regulations (PSR). They went through extensive information security assurance activities with the FCA before they gained their regulatory approval from the FCA, and maintain a strict information security policy internally in order to protect the data they collect.