Customers
Open
Banking
Third-party providers
Closed banking keeps your data within your financial institution, possibly reducing your ability to compare and explore other products and services easily. Open Banking uses APIs to allow you to share your data safely and securely using third-party providers, giving you, the customer, greater choice and control of your finances.
Newcastle Permanent
Price comparison websites
Open Banking diagram - NP
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Created on June 27, 2024
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Transcript
Customers
Open
Banking
Third-party providers
Closed banking keeps your data within your financial institution, possibly reducing your ability to compare and explore other products and services easily. Open Banking uses APIs to allow you to share your data safely and securely using third-party providers, giving you, the customer, greater choice and control of your finances.
Newcastle Permanent
Price comparison websites