It would not be an exaggeration to say that the confidence of the banks to serve their customers over mobile applications is powered by open banking technology. It takes the help of a central directory of bank information of every customer and facilitates data access and transfer without any hindrance. It is why you can check and make changes to your account and savings using your mobile application, without even bothering about the fact that you had started your account in a city and a branch that is far from your current location.
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