Open Banking was introduced by the UK government in 2016, making it easier for people to give third-party providers access to their transaction data, compare accounts, and access new products. It means customers can get more choice about how they manage their money, often including personalised insights, to help them save and spend better.

With Open Banking, third-party providers like Nous can securely access customers’ current account transaction history and can use the information to provide useful, personalised services (see How does Nous connect with my bank?)

Every Open Banking provider is regulated by the Financial Conduct Authority and there are now 4 million people using Open Banking in the UK. You’re always in control and you choose when, and for how long, you give access to your data.

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