What Open Banking means for consumers

What Open Banking means for consumers

When you opt in to Open Banking, regulated financial providers are able to access your data quickly and efficiently, and that means you get answers quickly, whether you’re applying for a current account, a new credit card or a mortgage. And don’t worry - your data is protected as Open Banking is completely secure.

Open banking helps you budget, find the best offers, and shop for the products and services that suit you. It also enables you to see all of your finances in one place.

What is Open Banking?

Open banking is the secure way to give providers access to your financial information, and in return get access to better deals based on your financial behaviour. By allowing a regulated app or secure website access to your information, you’ll be taking your first steps into user-friendly, ultra-efficient banking. Entirely secure, you control who can access your data and how long for, with the power to terminate access at any time.

What is Open Banking?
Freedom & transparency



Freedom & transparency

See all your finances in one place and set savings budgets.

 

Streamlined payments

Using one of Open Banking’s regulated payment service providers, you can make payments directly from your bank or building society, regardless of who you hold your account with.

Tailored to you

Transform the way you shop by allowing a regulated price comparison website access to your account information, and in return you’ll enjoy exclusive results based on what and how you spend. 

 

A bold new era of banking

A government-led change that aims to up the innovation and competition provided by financial services, the Open Banking initiative was introduced by the Competition and Markets Authority on behalf of the UK Government.

Tailored to you

Safe And Secure

Our top priority is the security of our clients and their customers’ data.  Our technology has been developed to the highest technological standards to ensure security, ISO compliance and adherence to the FCA security principles.

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