Enable Banking and account connection: how open banking works in Slovakia
An explanation of open banking, PSD2, secure account connection and how investors can automate rent payment matching.
Open banking enables safe and controlled access to payment account data through third parties. For a property investor, the most practical use case is automated rent matching and faster payment control.
What open banking means
The NBS describes open banking as a regulated framework for accessing online payment accounts through third parties. It is based on PSD2 and Slovak payment services legislation.
Access should be controlled by the user. The investor approves the connection and can usually revoke it through the bank or the service.
How it helps landlords
Without account connection, the investor manually checks whether tenants paid rent. With several apartments, this becomes dozens of checks every month.
A provider such as Enable Banking can make it possible to import transactions and match them with contracts, tenants and expected payments.
Security and expectations
Investors should understand which data they provide, for what purpose and for how long. The service should clearly explain whether it reads transactions, initiates payments or performs another function.
- verify who receives consent and for what purpose,
- monitor consent validity and disconnection options,
- do not provide login credentials outside the bank authorization flow,
- use the connection mainly to automate routine payment checks.
Sources
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