CYBG has been working with The ID Co to merge its DirectID Open Banking platform into B mobile banking app.
B mobile banking app offers customers an innovative and frictionless platform. The app holds a variety of engaging tools, allowing customers to conduct their banking tasks on one single platform.
Much of what B mobile banking app aims to do is help customers become financially savvy. The app supports features for budgeting, lifestyle and banking tasks.
CYBG recently launched its aggregation service. This allowed customers to see their current account details from all banks and building societies within the B mobile banking app.
More doors open for B mobile banking app customers
By integrating with DirectID Open Banking platform, the B mobile banking app now has more access to banking data from a wider range of UK banks, including Barclays, HSBC, Lloyds Group, Santander, RBS, and Nationwide. Not to mention digital banks as well, such as Starling and Monzo.
The functionality has been rolled out live to all B mobile banking app iOS customers.
Around 94% of fintechs view Open Banking as a major opportunity for growth. Customers are now also expecting more sophisticated finance solutions from banks. Wider range for data collection allows banks to offer more tailored services.
Debbie Crosbie, COO of CYBG said: “We are one of the first banks to be Open Banking ready and able to allow customers to see all their finances in one place. This is just one stage in our digital journey, enhancing the services and experiences we can offer to our customers.
“We are looking forward to a continued strong relationship with The ID Co., adding to our digital capabilities in the coming months. The ID Co. has made the process of bringing external bank data into the CYBG business seamless.”
James Varga, CEO of The ID Co added: “The platform not only provides a simple and easy way for consumers to share their bank data but also allows financial institutions to carry out affordability, risk, compliance and credit assessments in a matter of seconds. This provides consumers with a hassle-free process of applying for loans, mortgages and other financial products.”
Furthermore, over the next few months, The ID Co. will continue to add support for additional UK banks. The company will also provide support for new Open Banking V2 data blocks.