Open Banking gives you greater control of your Bankwest data. It was introduced after the Australian Government passed legislation, called the Consumer Data Right. It means you can now share some of your Bankwest data with accredited organisations so they can provide you with a product or service (like a budgeting tool).
Open Banking could change the way you compare products and services between organisations and make it easier for you to find better deals. It could also mean access to new features and services to help you manage your finances.