How Open Banking can Help your Business
- Federation of Small Businesses
- 24 hours ago
- 5 min read
Open Banking lets small businesses securely share financial data, simplifying access to finance, improving cash flow & accounting. It also enables easier, more secure, and cheaper customer payments, offering a competitive edge. It's a UK government-backed initiative for better business management.
What is Open Banking?
Open Banking is a way for you to safely and securely share your business’s financial data, such as your bank transactions or account details, with other trusted companies. It can help with your budgeting, accounting and getting loans. It can also make it easier to get paid and improve your relationships with your customers.
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