Open Banking means that banks can share data about your accounts and transactions with other approved services – or allow them to initiate payments for you. Everything takes place via secure, standardized connections (APIs) regulated by the EU's PSD2 directive, and nothing is done without your prior consent.
Think of it as a door where you hold the key. No one can walk through without your approval. But once you have unlocked it, your accounting software, for instance, can fetch exactly the information it needs from your account – and nothing more.
As a Lunar Business customer, with Open Banking you can:
Automatically send your transactions to your accounting software, saving you or your accounting consultant from manual data entry.
View data from your Lunar account directly in the tools you already use for a consolidated overview of your business.
Automatically match receipts and accounting entries to keep your bookkeeping up to date without extra effort.
If you use multiple banks for your business, you can connect them to Lunar. This allows you to view all balances and transactions in one place.
Security
Open Banking is a regulated part of how banks operate across the entire EU today.
You have full control. No third party gets access to your details until you actively give your consent, and you can revoke it whenever you want.
Only approved providers. Only companies that hold a license or registration with a financial supervisory authority within the EU/EEA – for example, Finansinspektionen in Sweden, Finanstilsynet in Denmark, or the equivalent authority in the provider's home country – are allowed to receive data or initiate payments via Open Banking. The license is then valid across the entire EU/EEA, not just in the country where the provider received it.
Strong customer authentication. PSD2 requires access to your details and payments to be confirmed with two-factor authentication, such as BankID.
View your existing connections
You can view any existing third-party Open Banking connections by:
Logging into the Lunar app
Clicking on the profile icon in the upper left corner
Clicking on 'Security' followed by 'Third-party connections'
Here you can see when you connected, when the connection expires, what access the connection provides, and remove an existing connection.