Yes, it is very simple. And yes, it is very legal. Not only is open banking legal, but it’s highly regulated. Let's look at how
Open banking is not reserved just for experts in the fields of finance, it affects everybody. Better yet, open banking benefits everybody
All the entities involved in open banking, as well as the rules regarding privacy, data sharing and more, are under strict regulations
Open Banking and Open API share some commonalities and they work together, but they are not the same thing.
Are Open Banking APIs accessible to everyone? No – but that’s good! We go into detail about why
Open banking allows a company to connect with a user’s bank to view the user’s financial data (with the user’s consent, of course)
Kontomatik sp. z o.o. Prosta 51, 00-838 Warsaw, PolandKontomatik UAB Upės g. 23, LT-08128 Vilnius, Lithuania