Open Banking Archives - Pearl Financial

Tag Archives for " Open Banking "

Nov 20

The Concept Of Open Banking

By Shane | Interest Rates , Investing

What Is Open Banking?

Open banking refers to large, traditional banks opening up the data they have on customers in order to allow new products and services to be created, supporting all of that up with strict technical standards.

In essence, it allows customers to share their financial transaction data with authorized third parties, and allow authorized third parties to accept payments from their bank accounts.

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