2 min read
Definition
Open banking lets a company grant a lender secure, read-only access to its bank-account data through a regulated connection. Instead of static statements, the lender sees live transaction data, giving a truer picture of the cash a business actually generates.
Why it matters
It speeds up and sharpens affordability assessment, and helps younger companies prove cash flow without years of accounts. See affordability for young companies and how lenders assess affordability.
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