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Lloyds, Halifax introduce open banking API

Customers of Britain’s Lloyds Bank and Halifax can now see all their current accounts, regardless of which bank they are through their mobile banking app. The 2 banks have added an open banking-enabled functionality in their respective systems. The mobile apps now give customers a view of accounts from NatWest, RBS, HSBC, Barclays, Santander, Nationwide, Bank of Scotland, Lloyds and Halifax. More banks will be added, Lloyds Bank said. Bank of Scotland, which is part of Lloyds Banking Group, had first introduced the functionality to its customers in December 2018. Open banking, which was introduced by the government a year ago, enables third-party financial services suppliers’ access to customer data – if the customer agrees – through APIs. Account aggregation is widely seen as the first stage of adoption at banks and is when customers can see all their accounts in one place. The bank has also integrated with Google Maps to help customers see where they spend money.

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