How does Open Banking benefit me?
It’s a safe and secure way to get all the data you need to make an informed decision about the right banking products for you. You’ll never need to give your internet banking login details to third parties should you wish to share customer, account or transactional data with them.
Open Banking aims to increase competition in the financial services sector, making it easy for you to compare and switch between products and services offered by accredited third parties.
https://www.beyondbank.com.au/need-help/how-does-open-banking-benefit-me