A liability chain is the sequence of parties – financial institution, intermediary, third-party provider, and any sub-processors beneath it – through which responsibility for an open finance failure could theoretically pass. Risk management maps it by tracking who is formally liable.
Legal liability depends on jurisdiction; practical liability usually doesn't. In the UK (and shortly in Canada), statute may point to the Account Information Service Provider (AISP) or Payment Initiation Service Provider (PISP); in the US, a data access agreement may route liability to the aggregator. But regardless of where the chain formally places responsibility, the institution holding the customer relationship is typically the one that has to make the customer whole immediately, then separately decide whether pursuing the rest of the chain for recompense is worth the time and cost involved.
Invela is the infrastructure layer that makes open finance trustworthy – accrediting who's in the network, monitoring risk in real time, and ensuring liability lands in the right place. Open finance, covered.
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