Open Banking is a set of rules that let you give a third-party tool secure, permissioned access to your bank accounts. For an operator, that means your treasury system, analytics platform or accounting tool can see your Xace balances and transactions live, and in some cases start payments, without anyone exporting a CSV.
Xace does this through Salt Edge. If a platform supports Salt Edge, it can work with your Xace accounts.
The two halves
AISP, account information. The tool can read balances, transactions, payees and FX flows. This is what feeds reconciliation, cash forecasting and dashboards. It is read-only.
PISP, payment initiation. The tool can start a payment from your Xace account. The payment still passes through your Xace approval policies and role rules, so a treasury system can propose a payment but your people still sign it off.
What operators use it for
- Live cash position across every entity and currency in a treasury tool, instead of a spreadsheet updated each morning.
- Automated reconciliation in accounting or a data warehouse, with transactions arriving as they happen.
- Forecasting built on actual cashflow rather than last month's exports.
- Payment initiation from your own systems, with Xace approvals as the control.
What does not change
- Your approval policies apply to every payment, however it was initiated.
- Roles and permissions apply. A connection cannot see an account its user could not see.
- Every action is logged with user and entity context.
Getting started
- Check whether your tool supports Salt Edge. Most treasury and accounting platforms do.
- Decide what the connection needs: read-only for reporting, or payment initiation as well.
- Connect from the tool's side and authorise the Xace accounts it should see.
- Start with one entity and one use, usually reconciliation, before widening it.
If your tool is not on Salt Edge, the Xace API covers the same ground directly, with webhooks so your system is told when something changes instead of asking.
