Open Banking: Revolutionizing Financial Accessibility and Innovation
Open Banking is a system where banks share their customers’ financial data (with the customers’ consent) securely with other financial service providers through APIs (Application Programming Interfaces). This allows third-party financial services to access banking data and create new applications and services that improve financial management, streamline transactions, and enhance customer experiences. Here’s an overview of Open Banking.
Transforming Financial Services for Consumers
Increased Competition:
It fosters competition among financial service providers, leading to better offerings and services for consumers.
Enhanced Customer Experience:
Users can access a wider range of financial services and manage their finances more conveniently.
Innovation:
Encourages the development of new financial products and services, driving innovation in the industry.
Ensuring Security and User Empowerment”
Empowering Financial Transactions and Insights
Payment Initiation Services
Initiate payments directly from bank accounts without the need for credit or debit cards.
Account Information Services
Aggregate account information from multiple banks into a single interface for better financial planning.
Personal Finance Management
Applications that provide insights into spending habits, budgeting, and financial health based on transaction data.
Why Choose Business Intelligence Agency ?
Open Banking is built on DigiBank – Enterprise Digital Banking Platform, enabling your growth in the digital era.
Bank-proven business case with fast positive ROI and an overall CoR below 0.1%
Over 20 years of experience in the factoring business, establishing regional and global market leaders.