What is Open banking?

Open Banking is the practice of securely sharing financial data, subject to customer consent. In practice, this means banks and other financial service providers which hold customer data must grant authorised third parties access to this data upon customer consent. Effectively, this takes ownership of financial data away from the bank and puts it back into the hands of customers.

Find out more about Open Banking in our Open Banking Overview section.

Was this article helpful?

Friendly Score UK Ltd.

42 Brook Street, Mayfair

London W1K 5DB

Call us on +44 20 3709 6726

Company registered in England

Company number 09168668, ICO ZA111687

VAT registration number 206 9758 80

Authorised and Regulated by the Financial Conduct Authority. (FRN: 821100, 781963)