Smart Data
GeneralDefinition
Smart data is the secure sharing of customer data with authorised third-party providers (TPPs), at the customer's request. These providers then use the data to provide innovative services for personal or business customers, such as automatic switching or better account management.
Related Terms
Frequently Asked Questions
What is Smart Data?
Smart data is the secure sharing of customer data with authorised third-party providers (TPPs), at the customer's request. These providers then use the data to provide innovative services for personal or business customers, such as automatic switching or better account management.
What does Smart Data stand for in Open Banking?
Smart Data is a key term in the Open Banking ecosystem. Smart data is the secure sharing of customer data with authorised third-party providers (TPPs), at the customer's request. These providers then use the data to provide innovative services for personal or business customers, such as automatic switching or better account management.
More General Terms
Open Banking Ecosystem
The Open Banking Ecosystem refers to all the elements that facilitate the operation of Open Banking....
Open Banking Services
The Open Banking services provided by Open Banking Limited to Participants, including but not limite...
Open Finance
Open Finance is the extension of Open Banking-like data sharing and third party access to a wider ra...
Participant
An API Provider, API User, ASPSP, or TPP that currently participates in the Open Banking Ecosystem. ...
PSU
Payment Services UserA Payment Services User is a natural or legal person making use of a payment service as a payee, pay...
SME
Small and Medium-sized EnterprisesSmall and medium-sized enterprises by scale of business, as defined by the CMA, with a turnover less...
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