What is Open Banking?
Open Banking is an industry-wide initiative that Barclays has been working on with the Competition and Markets Authority, other regulators and banks and companies authorised by the Financial Conduct Authority (FCA). It enables you to share your current account data with FCA-approved companies, if you want to, and pay in new ways. It’s designed to:
- Enable you to benefit from greater innovation within financial services
- Give you more control over your information
- Increase transparency and competition in the market to drive better customer experiences
Through Open Banking, you can now choose to add your current accounts held with other banks or providers, safely and securely, into your Barclays Mobile Banking app.