It's a company that gives you access to a service, and will need your account information to provide it.

Third party providers are approved by the Financial Conduct Authority before they can take part in Open Banking. All third parties will appear in the Open Banking directory.

We don't know which companies will apply to become authorised third party providers, but they could be high street banks, smaller banks, or companies that aren't banks but provide similar services, such as credit reference agencies and comparison websites.

Some major retailers are also on the current list, including Argos, John Lewis and Amazon.

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