Open Banking is the secure way to give service providers access to your financial information. It is currently only available to customers of UK banks.
With Open Banking, you can make payments directly from your bank or building society and you’ll never be asked to share your password or login details with anyone other than your own bank or building society. Safe. Secure. Simple.
Feel free to click the link and watch this video that explains Open Banking.
Open Banking is designed to bring more innovation to financial services.
It was set up by the Competition and Markets Authority on behalf of the UK Government. Every provider that uses Open Banking must be regulated by the FCA. At the moment, the nine biggest UK banks and building societies are enrolled in the Open Banking Directory.