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Payments General

Lloyds Bank unveils open banking app feature

Friday 8 February 2019 | 10:33 AM CET

Lloyds Bank has announced launching a new open banking app feature allowing its customers to view products they hold with rivals under one roof.

More than a quarter of UK current account customers will be able to view products from different banks on one screen thanks to a new app feature from a banking giant. Lloyds Bank and Halifax customers will now be able to view their personal accounts at up to six rivals after an update to its mobile banking apps.

Bank of Scotland introduced open banking functionality for its customers in December 2018, but this has now been rolled out across the rest of the group's banks. Customers can add an account in their online banking app using a secure open banking connection, by choosing an account provider, logging into the service and selecting the accounts they want to share.

Lloyds insists that login details for other banks will never be shared. Once that security process is complete, customers will have access to accounts and transactions in one place.

More: Link
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