Also known as consumer-directed finance, open banking empowers consumers and small business owners to choose the financial products and services that are most valuable to them.
With open banking technology, you can securely connect your bank account with the third-party application of your choice. Under your guidance, your data is shared via secure APIs between banks, investment companies and other third-party app developers. And you can do this in just a few minutes – online and at your convenience.
Accessing this data from an open banking connection allows fintech companies to provide a wide range of improved financial products and services, from easier access to corporate credit to better cost-saving insights.
Caary uses a Canadian based open banking provider called Flinks. Learn more about Flinks here.