Open Banking is a UK Government initiative to remove the technical barriers that stop your accounts from working better together when they’re held with different banks and providers. If you can safely share your account information, it makes it possible for financial technology providers, banks, online retailers and other companies to create innovative new apps, services and products that can help save you time and money.
It’s thought that Open Banking could ‘unlock’ the banking industry – make it more competitive, provide more choice for consumers and boost innovation.
The Open Banking initiative is being led by the UK's Competition and Markets Authority (CMA) in collaboration with us, consumer groups, banks, online retailers and financial technology (fintech) providers. For more information see https://www.openbanking.org.uk/about-us/