Open Banking is a regulatory initiative that enable UK banks to create open interfaces into customer accounts and payment systems to simplify how financial information is retrieved, shared and presented.
Open Banking allows regulated, third-party apps (like us) to have read-only access to your bank accounts with your permission. It's a secure method of transferring your financial data giving you the ability to get paid directly into your bank account when initiating transactions in tomato pay without the need of typing your personal bank details anywhere.
It's similar to the way in which you're asked to sign in using your Google or Facebook accounts so that you can securely share data to new financial apps in a quick, safe way. This permission is called "consent" and it expires after 90 days. We will ask you to renew your consent every 90 days.