HOW open banking CAN help BUSINESSES

Open banking is a secure and simple way to help the UK’s small businesses manage their finances more effectively – and become more resilient, productive and profitable.

It does this in two ways.

First, by giving businesses access to up-to-date financial data at any time to enable them to understand and manage their money more effectively – including forecasting, applying for credit, or speeding up payments.

Second, by offering an alternative way to make and receive account-to-account (A2A) payments – to other businesses or to customers – that can be more cost-effective than card payments.

How does it work? 

Your bank account holds a lot of information about your business – cash flow, credit costs, invoicing, payroll – and much more.

By allowing you to securely share that information with regulated companies – such as banks and fintech firms – you can find more cost-effective products and services, and apps to help you understand your business finances better.

Quick guide to open banking for businesses

Our handy guide explains how open banking can help the UK’s small and medium-sized firms tackle late payments, find cost-effective finance, access real-time business insights and more.

Read our guide

Open banking in action…

Faster borrowing
Managing bills better
Cost-effective lending

Tackle business challenges 

Explore our app store

There are over 50 providers offering the following open banking-powered business services.


Do you need help with getting open banking solutions up and running for your business? Get in touch today.

Contact us