Account-to-account payment journeys
Open banking can enable customers to authorise payments through supported banking connections. Availability depends on country, bank coverage, provider capabilities and customer consent.
Suitability depends on your business activity, company structure, target markets, processing history, transaction patterns and each provider's own risk and compliance criteria. We help you understand the questions to ask before moving forward.
What to consider
- Bank coverage and market availability
- Consent-led customer journeys
- Payment initiation and confirmation flows
- Provider security and compliance checks
- Fees, reserves, settlement and contract terms set by the provider
How Payments Clarity can help
We can review your requirements, help organise the information a provider may request and facilitate an introduction where there appears to be a relevant fit. The provider conducts its own assessment and makes all final decisions.
Connected financial experiences with customer consent
Open banking can enable secure, permission-based connections between financial institutions and authorised third-party services. Depending on the market and provider, use cases may include account information access, payment initiation, account verification and smoother customer onboarding.
The customer’s consent, the scope of data access and the duration of permissions are central to an open banking journey. Capabilities and regulatory permissions vary by jurisdiction and provider.
Potential use cases
- Account ownership or account detail verification
- Payment initiation from a supported bank account
- Income or cash-flow information access with consent
- Reduced manual data entry in eligible onboarding flows
- Reconciliation and payment status visibility
Design and governance considerations
- Explain clearly what data is requested and why
- Request only the permissions required for the stated purpose
- Provide a clear way to manage or withdraw consent
- Check bank coverage, uptime, authentication and fallback journeys
- Review data retention, security and regulatory responsibilities
