BLOG: Understanding Open Banking: How Pulse Makes Financial Management Easier for Your Business

In the ever-evolving landscape of financial technology, Open Banking stands as a pivotal innovation, heralding a new era of transparency and empowerment for consumers and businesses alike. At its core, Open Banking is reshaping how we manage our finances, share information, and access financial services. Enter Pulse—a cutting-edge platform that harnesses the potential of Open Banking to simplify the complexities of financial management. Join us as we explore the intersection of Open Banking and Pulse, where convenience meets sophistication in financial management.

What is Open Banking?

Imagine if you could allow your top-choice budgeting app to delve into your bank account details to sort out your financial intricacies - that's essentially the role of Open Banking. Launched in the UK in 2018, it revolutionised the way we handle our financial data. By sharing your financial information with certified providers (more on that later) such as Pulse, they can offer a more transparent view of your finances or scout out superior offers for you, ensuring your data remains secure.

The Benefits of Open Banking

So why is Open Banking a big deal? It's all about control and choice. Before, your financial data was mostly tucked away in your bank's vault. Now, you have the power to share your data securely with trusted third parties. This means you can get a personalised experience, like seeing all your finances in one place, even if you have multiple accounts across different banks. Plus, you get access to smarter services that can look at your data and say, "Hey, here's how you can save some cash," or "This is where you're spending a bit too much." It's like having a financial adviser in your pocket, one that's always looking out for your best interests.

Pulse and Open Banking: A Perfect Match

Now, where does Pulse fit into all of this? Think of Pulse as your financial savvy mate who's ace at making sense of all the numbers. By connecting with Open Banking, Pulse gathers all your financial threads—different bank accounts, spending patterns, income sources—and weaves them into a clear, colourful tapestry of your financial life. The insights on cash flow and income trends are not only enlightening but also instrumental when you're presenting your case for funding from a fintech lender like Nucleus. Lenders appreciate clarity and insight, which Pulse provides, all while maintaining your data under the strictest confidence. Plus, we're proud to announce that Pulse has recently acquired the Cyber Essentials Certification. This means we have fortified our systems against common cyber threats, ensuring an even higher level of security for your financial data.

Getting Started with Pulse

Getting on board with Pulse is like signing up for a gym membership, but instead of getting fit, you're getting your finances into shape. It's straightforward – sign up, let us have a quick look at your financial data (all secure and private, of course), and voilà, you're in! Now, with your very own Pulse dashboard, you're ready to lift the weights off your financial decisions. It's all about taking those small steps towards big leaps in your financial health.

Fancy giving your finances the edge? Hop onto the Pulse bandwagon and see for yourself. It's free, secure, and just might be the best financial move you make this year. Click here to get started or browse resources in our blog hub to learn more.



Share Story:

Recent Stories


Technology and the equity release market
Dan McGrath talks to chief executive officer at Air Group, Paul Glynn, about the equity release sector, changes to the market and how technology can allow the industry to move forward for lenders and consumers.

The later life lending landscape
Michael Griffiths speaks to Darren Deacon and Stuart Heavens from Family Building Society about the current state of play in the later life lending market

FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.