What is Open Banking?
Open banking is a European member state initiative that puts you in control of your financial information. It gives you the power to share transactional information from your bank account with other banks and third parties.
- Open Banking gives you the freedom to use innovative financial apps and services that can make managing your personal finances easier.
- Your bank will always require your consent to give a third party access to your transactional information.
- Your transactional information includes all your incomings, such as your salary, and your outgoings, from your subscriptions to payments into savings accounts.
How does Open Banking work?
Why is Open Banking safe?
We use modern security practices and end-to-end encryption to establish a secure Open Banking connection with your bank account.
To connect, you’ll need to log into your bank account with your usual password, which ensures the connection has bank-level security. You don’t need to give us or anyone else your bank login details.