Barclays app now offers ‘Open Banking’ to let you access accounts from other banks

Open banking regulations recently passed across the UK were designed to spur innovation and loosen the grip of a handful of legacy banks from the country’s financial system. The new rules forced large banks to open up their consumer data through secure APIs, giving app makers and other banks access to information that could then be used to create any number of useful financial services.

In response to the changes, Barclays has rolled out an update to its mobile app that allows you to view accounts you may have at other banks, including Lloyds, Halifax, Bank of Scotland, RBS, NatWest, Nationwide, and Santander.

HSBC released its own app, known as Connected Money, in May to provide similar access to other bank accounts users may have, but there are key differences between the two. Read more

Source : Cnet

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2018-12-29T14:51:36+05:30September 14th, 2018|Categories: Banking & Finance, FIAKS daily, Innovation, Open API Banking, Regtech, Technology|Tags: |0 Comments

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