Open banking
Open banking gives you more control over your financial information, letting you securely share it with approved third parties to make payments and access personalised services.
Find out more about open banking’s benefits, and what to do if you’re a third party interested in using open banking services.
Overview of open banking
Open banking gives you more control and choice in how you make payments and who you share your financial information with.
Through open banking, you can securely share certain banking information to make payments straight from your bank account or access personalised services. This sharing is done through approved third parties (payment services, stores, businesses, organisations, and financial product/service providers) that have demonstrated appropriate processes and standards.
You’re in control when you use open banking services. Approved third parties must get explicit consent from you in order to send a request to ANZ, which you can approve or decline. Third parties must be clear about what they’re requesting and what service they’ll provide. You can stop an ongoing payment request or stop sharing your information with third parties at any time.
The Payments NZ API Centre is leading the development of open banking in New Zealand. Working with everyone from banks to startups, the API Centre is using an industry-led approach to build secure standards and align launch timeframes.
ANZ is supporting the API Centre’s approach. We’ve been building, piloting, and releasing open banking services to prove operational capability and meet technical standards.
ANZ’s open banking services
We’ve launched ANZ Payment Requests and ANZ Data Sharing. Both these services use the API Centre standards and are available in line with the API Centre implementation plan.
ANZ Payment Requests
The Payment Requests service gives eligible ANZ customers a fast and secure way to make one-off payments and set up ongoing payments in the ANZ goMoney mobile app, without sharing bank details.
To make a one-off payment to a store, business or organisation, simply choose the option to pay directly from your bank account. Then approve the payment request in goMoney.
You can set up ongoing payments for things like subscriptions, bills and top ups. Approve the request in goMoney then view the details anytime. You can stop an ongoing payment request whenever you want.
ANZ Data Sharing
With Data Sharing, you can use goMoney to agree to share information from your eligible ANZ accounts with approved third parties to access more personalised services. You can also agree to let ANZ use your information to do things like streamline applications.
Keeping your information safe
We protect your financial information in several ways:
- We only approve third parties (payment services, stores, businesses, organisations, and financial product/service providers) that have demonstrated appropriate security, privacy, experience and customer support standards.
- We don’t approve third parties related to a heightened risk of fraud or scams, money laundering and financial crime, unethical data use, or inadequate controls or processes.
- To help prevent fraud and scams, we don’t ask you to enter your customer number or password when approving a payment request or data sharing request, including when an approved third party service transfers you to ANZ automatically.
- We strongly remind you to never share banking login details, passwords, PINs or two factor authentication codes with any third party service, or any person, website or app other than goMoney or ANZ Internet Banking.
- Third parties must get your consent before they send a request to us.
- Each third party must be a member of the API Centre and accept the API Centre terms and conditions.
Information for interested third parties
Connecting to ANZ’s open banking services
If you’re a payment service, store, business, organisation, or financial product/service provider, you can access our open banking services by:
- Connecting directly to us by applying to be an approved third party
- Connecting to an approved third party service.
We can consider applications from third parties interested in connecting to the Payment Requests and Data Sharing services.
How to become an approved third party
The following steps in our approval process assess each third party’s ability to meet ANZ’s policies, legal obligations and risk practices, and demonstrate readiness and an ability to keep our customers safe:
- Contact us at open@anz.com.
- Become an API Centre member and test in the API Centre sandbox.
- Pass our initial assessment.
- Pass our due diligence criteria.
- Agree to ANZ’s standard terms and sign our agreement.
- Connect and validate testing outcomes.
- Agree a go-live date.
While we are following the API Centre’s standards and published implementation plan, we are using our own policies, risk practices and processes to assess third parties.
These steps are sequential and further information will be shared at each stage. We’ll keep you informed on your progress.
How to connect to an approved third party service
Stores, businesses, organisations and financial product/service providers can connect to approved third party services.
To do so, contact the third party directly to understand their connection processes (as they may vary). Currently, these are our approved third-party services.
Payment Requests
Information for developers
Find key information about ANZ’s open banking services for developers, such as available API endpoints, service parameters and data requirements.
For more information
To find out more, email us at open@anz.com.