Open banking offers users a way to have easier access to their own bank account information, like via third-party applications. This is achieved by allowing third-party financial service providers access to the financial data of a bank’s customers through the use of APIs, which enable secure communication between the different parties involved.

Some notable examples of banks and financial institutions that are leveraging open banking to offer enhanced services, increased transparency, and a more personalized banking experience for their customers:

Leave a Reply

Your email address will not be published. Required fields are marked *