Open Banking explained

What is Open Banking?

Open Banking is a regulated industry-wide standard with banks and building societies working together to make it easier for you to control your money.


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By using Open Banking you can manage all of your accounts in one place and also share transactional information from your bank accounts to providers of credit product for suitability assessment.

The Open Banking initiative is being led by the UK’s Competition and Markets Authority (CMA) in collaboration with us, consumer groups, banks, online retailers and financial technology (fintech) providers. For more information see

Why we need your consent?

In order to view your Open Banking information, we need your consent. This ensures we only access data for which you have provided consent for and only for the purpose we’ve outlined – in this case to assess your suitability for a credit product.

Providing your consent will allow us to review your Open Banking information and let you know whether we can provide you with credit. The consent you provide will only allow us to view your Opening Banking information once. If we need to see your Open Banking information again, we will ask you for consent again.

Is Open Banking secure?

Open Banking is a secure method of providing your transaction bank information. The Open Banking standard ensures all banks, building societies and financial services firm firms meet the required standard and are put through extensive testing and audits to ensure these standards are continuously met.

Will your data be kept safe?

Only you can decide to share your Open Banking information. Once you share it with us we will manage it in accordance with our Terms and Conditions and our Data Privacy Notice. We will not share your Open Banking data with any 3rd parties.

How does it work?

Street (UK) C.I.C is working with Bud Financial Limited who are authorised and regulated by the Financial Conduct Authority (FCA No. 793327) as a regulated Open Banking Provider.



You can provide your Open Banking data in three simple steps:


We will provide you with a link to allow you to choose your account provider.


Once you have chosen your account provider you will be asked to sign into their Online Banking to select the account you would like to add.


Confirm the accounts you want to view and share.