I understand that Sofort was allowed to continue despite using the user's bank credentials because disallowing them would be anticompetitive.[0] I have no idea

I understand that Sofort was allowed to continue despite using the user's bank credentials because disallowing them would be anticompetitive.[0] I have no idea how that could justify such an insecure practice, but there you have it. [0] https://knowledge.fintecsystems.com/en/blog/the-history-of-open-banking https://knowledge.fintecsystems.com/en/blog/the-history-of-o... , under "Legal Action by Giropay"