Meaning of open banking | Babel Free
Definitions
Third party API access to a consumer's banking data in order to create new services and products.
Examples
“It’s the start⟳ of a new series of rules concerning “open⟳ banking”, where customers will be able to share⟳ their personal financial information with companies other than their bank, opening up opportunities to get⟳ better deals on mortgages, overdrafts and comparing insurance and broadband deals.”
““Everyone’s getting very excited about fintech and open⟳ banking and all this new technology but the fact is … this actually risks more people being excluded from the financial system,” McAteer said.”
CEFR level
B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
This word is part of the CEFR B2 vocabulary — upper intermediate level.
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