Open Banking uses application programming interfaces (APIs) to allow the software at one company to access information from the software at another company.
Unlike screen scraping, which is dependent on you sharing your login details with an app, APIs allow users to regulate the data they share, with whom and for how long without ever sharing password information.
Only Third Party Providers that are highly regulated are permitted access to Open Banking APIs. FaizPay is regulated by the Financial Conduct Authority. As part of our registration we are obliged to be careful with your data and be open and honest about how we use it. You can visit the FCA website (www.fca.co.uk
) to check that we are registered and authorised to carry out relevant activities.