What is Open Banking?

Definition: Open banking is a way of sharing bank data and starting payments through secure bank APIs, with the account holder's consent. In iGaming it is used for account-to-account (A2A) deposits and payouts.

How an open banking deposit works:

• The player selects their bank on the payment page.
• The player confirms the payment in the banking app.
• Funds move directly from the bank account and the deposit is confirmed.

Uses for operators:

• Bank-to-bank payments with fast confirmation.
• Account ownership checks: the name on the bank account can be matched to the player profile.
• Bank data used in affordability and source of funds checks, where the player consents.

Availability depends on the market and on bank coverage of the open banking provider connected to the platform.