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For efficient customer financial information exchange
Open Banking is an innovative technology initiated by the EU and developed within the European Regulation of Electronic Payment Services (PSD2) framework. With your consent, this technology allows easy exchange of financial information between banks, streamlining the control and management of your finances. In the initial phase, you can instantly share or request bank IBAN, account balance, account holder name, and transaction history. The Liberty Bank Open Banking API also provides access to 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.
