Open banking helps businesses in several ways: (1) Onboarding and verification—using bank data to verify identity and income without manual statements. (2) Lending and affordability—assessing cash flow and risk via account and transaction data. (3) Account aggregation—viewing multiple business accounts in one dashboard. (4) Pay-by-bank—accepting or making account-to-account payments with lower fees than cards. (5) Accounting and reconciliation—feeding transaction data into ERP and accounting systems automatically.

API aggregators give businesses a single integration to many banks for these use cases. The Open Banking Tracker lists aggregators by country and product (AIS, PIS) so you can compare providers for business use.