Lloyds Bank announced last week that it and Halifax customers are now able to see their personal current accounts from different banks through the Lloyds Bank mobile banking app. According to Lloyds Bank, the new open bank feature now enables customers to safely and securely see all current accounts in real-time without any need for multiple logins.
“Customers can add an account in their online banking app using a secure Open Banking connection – they simply choose the account provider, log on to the service and select the accounts that they want to share (their login details for other banks will never be shared). Once they’ve completed the security process, they’ll have instant access to their accounts and transactions in one place.”
Speaking about the feature, Stephen Noakes, Transformation Director, Lloyds Banking Group, stated:
“We’re focusing on taking our industry-leading apps to the next level by offering customers a fuller view of their finances. Bringing Open Banking technology into our apps is the next step in a series of exciting new features designed to make it easier for customers to manage their money online. We recently launched a suite of features to help online banking customers keep track of spending and help protect against fraud, enhancing the safe, secure and seamless experience our customers are used to every day.”
Lloyds Bank went on to add that another feature that has been added based on feedback from customers is a timeline of scheduled payments for regular bills, including monthly direct debits and standing orders, to help make budgeting easier.