Open Banking is a secure framework that allows customers to share financial information and initiate payments directly from their payment accounts through authorised third-party providers (TPPs).

Through Open Banking, customers may:

• securely connect eligible bank accounts and payment accounts held with participating banks or other regulated payment service providers (PSPs);

• view account information from connected accounts through authorised Account Information Service (AIS) providers;

• initiate payments directly from connected accounts through authorised Payment Initiation Service (PIS) providers;

• fund their Eqwire account from a connected account;

• initiate payments from their Eqwire account where Open Banking functionality is available.

Open Banking is designed to give customers greater control over their financial data and payment services while maintaining strong security and authentication standards.

Eqwire may utilise authorised third-party Open Banking providers to facilitate Account Information Services (AIS) and Payment Initiation Services (PIS). Any access to account information or initiation of payments will only occur with the customer's explicit consent.

Open Banking can be used with eligible accounts held at participating banks, electronic money institutions (EMIs), and other regulated payment service providers that support Open Banking connectivity.