Monzo, an UK digital bank, admits to a data breach that affects more than 500,000 customers.
According to their blog post, they ask for a PIN whenever individuals want to make a payment, or do anything else that's sensitive on the Monzo account. As a bank, they keep a record of the PIN so Monzo can check the PIN has been entered correctly. The PINs are stored "in a particularly secure part of [their] systems," and are "tightly" controlled who at Monzo can access them.