Open Banking is an innovative technology initiated by the EU and developed within the European Regulation of Electronic Payment Services (PSD2) framework. Using Open Banking Technology, with your consent, you get the possibility to exchange financial information between the banks easily. Within the first phase of the Open Banking implementation, you can share and instantly request the following information:

• Bank IBAN;
• Account Balance;
• Account holder name;
• Transactions history;

In addition to bank account information, via Liberty Bank Open Banking API, it is also possible to access simple authorization and payment initiation services.

Moreover, within this framework, you can effortlessly share partial or full KYC information with other financial institutions, simplifying onboarding procedures. The primary objectives of Open Banking include enhancing payment safety, fostering innovation, and promoting the adoption of the latest banking services.
 

Quarterly statistics on availability of open banking services