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The Open Banking and the Property Industry

Open Banking is a term that begins to be heard a lot and we will hear it even more frequently in the near future. In general terms, is to open banking information to third parties through an open application programming interface. Its advantages for the property industry and, in general, for all sectors of the economy are practically visible to all. It is only a matter of time before customers begin to know their advantages and accept the daily use of this new way of using data.

A particularly successful case is the online gambling experience such as 888 offers. With a high degree of security in their systems, they have been able to collect valuable information from their users, which allows them to design customized games, so that, in this way, the possibilities of entertainment in a more agilely way in Casino games increase.

It is worth highlighting how careful they are when requesting key user information and the security and privacy guarantees they offer to safeguard the data. It should be added that, speaking of this particular case, the clarity with which they explain the reasons for requesting such information, the conditions of its use, as well as the rules with which the user can be sure that he will not be a victim of fraud, they are extraordinary.

Now, led to the philosophy of Open Banking, if the user accepts it, all these data collected could be shared with other financial entities, which would serve to expedite hundreds of financial services for people who seek an immediate response to their needs.

Why? Because that’s what Open Banking is all about. In an absolute security framework, where the client or user accepts that their data is shared with other financial entities to receive information about products that may interest them or quickly obtain a response to a specific request from a service provider, their information will serve and be freely shared so that their chances are greater.

This is where the possibility of the great future of the property industry comes in. In a world in which people are in constant motion, whether due to the need for work or the pleasure of living different experiences throughout their lives, getting a loan to acquire a home or accepting the requirements for rent an apartment, demand speed and efficiency.

In these moments of life you can not wait long. In some cases you can miss the opportunity of a great job or, the pleasure of acquiring the property of your dreams. That is why the credits need to be authorized quickly and the only way to get an answer as soon as we need it, is by previously allowing companies to have our information. With the Open Banking it is expected that in the future our requests to acquire housing or rent a house or an apartment will be resolved in a matter of minutes.

Thanks to the freedom in the secure flow of user information, transactions, acquisitions and entertainment through the internet will be much easier. In addition, the possibility in terms of offering personalized financial products will increase for the benefit of the customer. Banks may have full control over the advice, loans, transfers and financing of their clients.

At this point, security and speed are already guaranteed, so it is only necessary that both banking institutions and all those involved in financial solutions adopt Open Banking to begin offering their customers all the advantages.

In that sense, one of the most interested sectors is that of the property industry, since having access to this data will be able to expedite the response to their clients immediately and likewise, they can prevent or detect any attempt of fr