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What is Open Banking?
What is Open Banking?

Open Banking

Kez avatar
Written by Kez
Updated over a week ago

What is Open Banking?

Open Banking is a secure way to give third parties (like Kestrl) access to your financial information without sharing any banking credentials/login details.

This was introduced in the UK to help people find new products and services to take control of their finances, find better deals, and help make the most out of their money.

At Kestrl we use Open Banking in the following ways;

  • To connect all your banks in one place and provide you with a total view of your bank balances

  • To categorise all your transactions into spending categories e.g. bills, groceries etc.

  • To build a bespoke budget for you based on your income and expenditures, helping you to save as much as possible each month

You can find out more on the Open Banking website here:

Find out more about Kestrl's Open Banking FCA registration as agents of TrueLayer here:

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