Banks have now begun their managed roll out, or ‘beta’ period, to test their APIs with FCA regulated third parties who have permissions as Account Information Services Providers (AISPs).

Application Programming Interfaces will appear to you as a redirect from the third party app (like Lumio) where you'll go to your banking app or banking website, it will ask if you want Lumio to have access to your finances and be able to show your data for the next 3 months, and once you say yes you'll get redirected back to Lumio

It's a bit like when you sign in to another app via Facebook or Google, it doesn't change or allow unlimited access to your actual account, and you can stop access at any time from your banking app. You'll get prompted every 3 months to reconnect, so you can never accidentally leave the connection running.

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