Open banking: challenge or opportunity

The use of APIs by banks is becoming increasingly common as they help to drive speed and cost-effectiveness compared to traditional legacy systems.

There is a great amount of banks which guarantee convenience and safeness to their customer. But nowadays people want to get the best, that’s why they try many other to compare with and choose one according to its benefits. Can you imagine that perfect bank, which is 100% safe and secure exist and is available to any person who can download the app.

What is Open Banking?

Open banking system is a really good helper in your finance, because it knows how to save, transact or manage your money in most proper way. You have a better access to the transaction which is by the way much faster than in the one you use now.

You can see all of your expenses and revenues in one place and for sure will never forget to pay for a credit, a loan or utility bills because it’s all gathered together for your convenience and time economy. If you are searching for something to buy in Internet, be sure Open Banking System will help you to get better deals to make your shopping pleasurable.

Open banking provides bank-level security that’s why it is safer than all the banks you used before. That means it checks all the software and security system for you to deal with tested only. Also they block any requests for your personal data from other systems so it’s a guarantee for you to keep your money in a reliable place. In addition, the bank will pay your money back to your account if fraud payment happen from your side.

In case you want to set a business and look for finances, Open Banking System will help you with it also, saving your nerves for interview and time for gathering receipts. You just share your analysis of finances with a lender and within a few seconds the person is aware about your business and here it comes – you can get really good offer for your business growing, easy and safe.

Benefits to Use Open Banking

It works with online or mobile banking

If you use online or mobile banking for your current account, you can start using Open Banking today. Discover apps and websites from regulated providers that are already using Open Banking to create new services for you. We call them the Regulated Providers.

A clearer view of your finances

See all of your finances in one place, thanks to Open Banking. It could help you budget, find the best deals, and shop for the products and services that suit you. You can choose to give a regulated app or website secure access to your current account information.

Quick, easy and direct payments

With Open Banking, you can make payments directly from your bank or building society.

Shop around

Open Banking could transform the way you use price comparison websites: if you choose to give a regulated price comparison website access to your account information, you’ll be able to get results based on what you actually spend.

So if you are a person who cares about your money and wants to manage it easily and effectively, try Open Banking and be sure that’s the right way to save and economy your finances. It looks like a good friend with whom you do the shopping, collect the money for a great goal or getting a loan. We created it for your comfort!

Jul 25th, 2018