2 min read
How the access works
You authorise a regulated provider, through your own bank, to share transaction data with the lender. The lender sees the numbers it needs to assess affordability but never your password, and it cannot initiate payments. Access is time-limited and you can withdraw it.
Why lenders like it
Verified data speeds up a decision and reduces the need to email statements around. It supports a faster, more accurate affordability check. Read is open banking safe for the consumer-side view.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
Can a lender take money via open banking?
Not through the data-sharing used for lending decisions. That access is read-only. Payment initiation is a separate service you would authorise explicitly.
Can I switch open banking access off?
Yes. Access is time-limited and revocable from your bank or the provider at any time.
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What does Open Banking actually share with a lender?
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Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.