OPEN BANKING
Less paperwork.
Far more security.
With Open Banking, securely share only the necessary data for business funding applications.
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TAKE CONTROL OF YOUR DATA
So, What is Open Banking?
Open Banking transformed the way businesses and consumers access financial products for the better. It’s meant that organisations and individuals have been able to take control of their own financial data, to drive better outcomes all round. Legislation introduced in 2018 meant that we now have the choice to share our banking information with trusted third-parties to unlock the best financial services and products.
Why does Open Banking exist?
Almost a decade ago, the Competitions and Markets Authority (CMA) began a review of the UK retail banking industry at the time.
After a lengthy three year review, the CMA finally published a report mid 2016 that identified that the financial services industry was lagging behind in terms of both innovation and competition.
What is PSD2?
PSD2 is a directive from the European Union, which lays out the requirements for banks and businesses in the financial services
How can I be sure that Open Banking is totally safe?
Open Banking isn’t the new kid on the block anymore, as it was actually introduced almost 5 years ago! It’s strictly regulated and totally safe!
Security
Open Banking has been created with security at its heart – here’s how:
Bank-level security
Open Banking ensures your data is secure with tested software
and systems. Never share your bank login details, PINs, or
passwords with anyone except your bank. If asked, it’s a red
flag.
It’s regulated
Only apps and websites that are regulated by the FCA or a European National Competent Authority can enroll in the Open Banking Directory.
You have the power
You choose when, with whom, and for how long you provide access to your data, so no one can access it without your say so.
Extra protection
Your bank or building society should pay your money back if a payment is made which is unauthorised. Also, you’re protected by strict data protection laws and the Financial Ombudsman Service.
SYSTEMS YOU TRUST
Built on the secure foundations of traditional banking and fintech innovation
Secure Access via APIs
Access Open Banking services through secure APIs, similar to online banking and apps.
Enhanced Money Management
Manage your finances with improved security and reliable fraud prevention.
Common Usage
You may already use Open Banking for tasks like paying bills or finding financial products.
Secure Authentication
Authentication involves secure methods like passwords, fingerprints, PINs, facial recognition, and mobile verification—never sharing security details.
You control what is shared and for how long
The decision is yours - set the access duration and end it whenever you like.
Open Banking
Connected
Open Accounting
Connected
Changed your mind? No problem. Revoking access is as easy as granting it. Opt out anytime!
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Banking Integrations
Secure and seamless connectivity
Pulse integrates with leading Open Banking platforms, giving you a clear, real-time view of your business finances. With instant access to your bank transaction data, you can manage cash flow more effectively and ensure tailored lending decisions. Explore all our Open Banking integrations to see how we can support your financial goals.
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FAQs
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