The Monzo Developer API allows you to get your own data. And yes, TrueLayer and some other aggregators allow this under some circumstances.
Thanks for the reply. Yeh, Monzo has an API, but I canāt initiate payments using it at the moment. Things only start becoming useful when more than just my Monzo account has an API, and when I can initiate payments. I know this maybe doesnāt fit with Monzoās business model, but what if I wanted to automate moving money into a savings account for which Monzo is not a broker. If both my savings account and Monzo had this feature, I could regulate the Monzo balance, so if too high, move to saver, if too low, draw from saver.
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Hi there @kieranmch , firstly thank you so much for this thread as it has helped me understand Open Banking immensely!
I would like to ask about the Third Party APIs, does Open Banking open the opportunity to have services use an API to connect the payment, or Monzo the opportunity to offer services through banking services? I kinda of understand what an API is but am a little unclear how it all ties together! Does open banking only relate to banking APIs or a mixture of different services?
Thanks in advance! 
Great read, thanks for taking the time to write and explain. My question is will the likes of Moneybox who round up transactions and take a total of them out of your account weekly be able to take the round up as it happens at the point of the transaction? Thanks 
Love this 
Will this new API be available through Yodlee? Iām a customer of PocketSmith to aggregate my accounts and they use Yodlee feeds and I havenāt been able to link up Monzo yet.
Thank you for the kind words Kieran on behalf of all at CreditLadder.
The work on this looks superb, congratulations to you and your colleagues. Very simple and easy to use, as weād expect. No use of āOpen Bankingā is something we are very keen on also.
My main feedback which Iām confident will already be in hand is to ensure that you test as many flows as possible e.g. app-app web-app, and also the interactions between browsers, in email app browsers and apps during the connect and reconnect flows.
If you would like to run some tests with us and TrueLayer we can coordinate with you on this very easily. Just reach out if we can be of any assistance. We look forward to welcoming your new standard to our users regardless.
Iām also personally an avid Monzo customer myself so I am pleased to see the additional work towards the full OB standard.
If there is ever a way for CreditLadder to be an available in-app option as weāve seen with Flux then do let us know. This may be a classic way to educate your tenant users on the benefits of Open Banking.
Weād love to help shift the credit position of your users. Equally, we respect that you have a defined roadmap to work towards.
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How will open banking work with accounting software? Primarily software such as QuickBooks etc that have or are in the process of implementing open banking themselves? Will it work off the bat?
Hi @kieranmch, this sounds very interesting. Iām very much looking forward to it.
There are a couple of use cases for which Iād really like to use it, that would further reinforce my perception of Monzo as my financial hub:
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With Open Banking, does Monzo intend to make it possible to receive notifications relating to spending on my non-Monzo accounts and credit cards?
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Iād ideally like to use a combination of Open Banking and IFTT so that every time I spend using my Amex card (and thus accumulate Avios), Monzo detects this, and the same amount is immediately paid from my Monzo account to my Amex account, I therefore never accumulate any debt on my Amex card
Do those sound like the sort of use cases that would be possible?
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I have one question in regards to rewards, how do you see the numerous open banking partners who work in the rewards side (tail, airtime, flux).
How do you see companies getting around the ādouble-dipā, (i hope they dont find a way 
)
For example - Bella Italia offer 10% cashback through tail, 5% through airtime.
How do you see the future clashs like this panning out?
Iāll pick up these questions later today ā itās busy!
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hi Kieran
Looking at this from the other endā¦
I donāt see yet Monzo as an option at the Halifax end of Open Banking (for example). Is that coming, when and to which banks?
thanks
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Are there any plans to expand open banking to European banks?
This is the sort of content I used to come to this forum for - thank you!
Is open banking all about bank accounts or does it touch card payments too?
Itād be really interesting to see payments infrastructure revolutionised in the same way. For example sending payments direct from a retailer bank to a customer bank, along with receipt details, missing out visa/mastercard.
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Open Banking really includes 3 things at the momentā¦
- Account information (data access)
- Payment initiation ā so that third parties can set up payments on your Monzo account
- Confirmation of Funds ā so that third parties can check you have enough money in your account for something.
All of these are achieved using the Open Banking API.
Doe this help? 
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Tentative answer to this question is ānoā - because unfortunately third parties are limited by the legislation to perform no more than 4 requests for transactions per day.
That being said, we are exploring adding webhooks to our Open Banking API. The webhooks will allow third parties to take actions in real time. As part of the webhook we could include details of the transaction so theyād have the information without having to call our endpoint.
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Iām not totally sure about this - it might be worth sending them a message to request Monzo!
All Account Information Service Providers will be aware of our new API, as we have emailed them!
Thank you Asa for the feedback! So glad you like it. I would be happy to chat over email.
For any accounting providers whoāve applied to become Account Information Service Providers, they should be able to approach us and get access to our Open Banking API. It shouldnāt be a lot of work for them to integrate, really, thanks to the Open Banking standard!
This would be great, but unfortunately we canāt get the information faster than third parties are willing to provide it to us. We would also be limited to āpollingā for the data a maximum of 4 times per day. For this reason I donāt think weāll ever see Monzo-style real-time notifications for third party providers, unless they choose to implement webhooks.
I can see us implementing something like this as a native feature in Monzo, but not through IFTTT as they arenāt a payment initiation service provider 
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