Open banking is the new frontier for financial services. It is much more than one product or service – it is a trusted financial framework underpinned by technology. It is a term used to describe the process that banks and other financial institutions use to simply and securely exchange data for regulated providers to access, use and share.
It enables financial institutions to offer the best advantages of insurance, consumer loans, mortgages and financial management. For customers, it offers clarity and control of their personal finances.
A secure, quicker, and more convenient system means you never have to share your bank login details with anyone, just use them to log in to your online banking as normal.
If you are interested or want to know more, click here