open banking

Noun

Meaning

open banking (uncountable)

(banking, finance) Third party API access to a consumer's banking data in order to create new services and products.

Source: en.wiktionary.org

Examples

Open banking and the introduction of a national identity framework were flagged as ways to make it easier for fintechs and alternative lenders to more easily offer these customers competitive products. Source: Internet

The Open Banking system is helping create an ecosystem where banks and technology providers can collaborate to offer true digital solutions to a customer even at the last mile. Source: Internet

Open banking will make it easier for customers to use products outside of their financial provider. Source: Internet

Close letter words and terms

open association open auction open ball open bar open bathroom open beta