What is Open Banking?

by Bottomline | Best Practice

Open Banking is a regulatory initiative that forces UK banks to create open interfaces into previously-locked customer accounts and payment systems. The objective is to simplify how financial information is retrieved, shared and presented. Across multiple banks and bank accounts, consumers and businesses are now able to consolidate, view, and access their banking information, and securely initiate payments from a single interface or authorised Third Party Provider (TPP).

About Bottomline

Businesses and banks rely on Bottomline for domestic and international payments, effective cash management tools, automated workflows for payment processing and bill review and state of the art fraud detection, behavioral analytics and regulatory compliance.

While consumer payments are ubiquitous and frictionless, business payments can still be obscure and counter-intuitive. The inherent complexities of larger transaction volumes, proliferated ledgers and regulatory oversight have held back B2B payments. But it doesn’t have to be that way. Bottomline exists to delight our customers, by overcoming friction and making the complex, simple.

Evolving APIs | NXTsoft Connectors For 40+ Banking Core Systems

Best Practice | Banking Evolving APIs | NXTsoft Connectors For 40+ Banking Core Systems

NXTsoft
New GFT Engineering blog on Medium

Other | Artificial intelligence New GFT Engineering blog on Medium

GFT
Murex, Client Work to Comply with Regulator Fair Value Determination Request

Other | Risk management Murex, Client Work to Comply with Regulator Fair Value Determination Request

Murex
FrankieOne solves global fintech challenge with unified regtech solution

Case Study | Financial Services FrankieOne solves global fintech challenge with unified regtech solution

Austrade
Four Signs Your Firm Is Ready for a Front-To-Back Solution

Other | Asset management Four Signs Your Firm Is Ready for a Front-To-Back Solution

Meradia

Other resources from Bottomline

Digital Payments Transformation with ISO 20022 as the Springboard

White Paper | Banking Digital Payments Transformation with ISO 20022 as the Springboard

Bottomline
5 Top Tips for Leveraging Centralised SaaS Platforms and Hybrid Integration Models

White Paper | Banking 5 Top Tips for Leveraging Centralised SaaS Platforms and Hybrid Integration Models

Bottomline
A payments conversation with Bank of England's Christina Segal-Knowles: Part 2

Best Practice | Payments A payments conversation with Bank of England's Christina Segal-Knowles: Part 2

Bottomline
A payments conversation with Bank of England's Christina Segal-Knowles: Part 1

Best Practice | Payments A payments conversation with Bank of England's Christina Segal-Knowles: Part 1

Bottomline
What is Open Banking?

Best Practice | Payments What is Open Banking?

Bottomline
SWIFT gpi & Universal Confirmations via Bottomline’s API Gateway

Brochure / Fact Sheet | Behavior detection & predictive analytics SWIFT gpi & Universal Confirmations via Bottomline’s API Gateway

Bottomline
Hosted Multi Connectivity Payment Hub

Brochure / Fact Sheet | Infrastructure/architecture Hosted Multi Connectivity Payment Hub

Bottomline
Data Analytics - Store & Track

Brochure / Fact Sheet | Behavior detection & predictive analytics Data Analytics - Store & Track

Bottomline