What is Open Banking and how can this help my business?

Open Banking is a safe way to share financial data, but have you heard of it?

We are always trying to make life easier for our customers, and Open Banking is a secure way to give providers access to your financial information.

We often need to see bank statements or accounts to help assess a finance application, and Open Banking is a smooth, easy process that not only saves time but is highly secure, enabling the customer to get their approval of finance quickly.

Open Banking is a relatively new product that has come to the fore as a result of the Covid-19 pandemic. It really started to take off during the second lockdown.

Sales Executive Jack Cleaver said: “It is another new way to help our customers.

“They don’t have the worry of sending confidential financial information on email. Everything is encrypted and you have a password.”

Open Banking means you can share your financial data with apps and websites but only with companies that have passed industry security checks so it safe and secure.

“It is something we have now adopted since the second lockdown. We have been doing it for a little while now and it is working really well. People are realising it is easy and seeing the benefits of it.

“There is so much written about it now that people are realising Open Banking is an easy way to go. It helps customers and us because we can see the documents in a perfect format, no more poorly scanned documents!”

Open Banking is another reason to contact us today for a quick and easy way to secure finance. So for more information on this or any other service we provide please do not hesitate to call us.

You can find this article and more at Credo Asset Finance

We think you may also find this interesting: Restart Festival - The British Business Bank