Open banking

Open banking is a framework that enables third-party providers to access a customer's bank account data or initiate payments on their behalf, with the customer's explicit consent, via secure APIs. In South Africa, open banking is still an evolving regulatory area, but bank API integrations — such as those underpinning Pay by bank, Capitec Pay and Instant EFT — represent practical implementations of open banking principles. Stitch is integrated directly with South African banks, enabling real-time payment initiation and account data access without relying on intermediaries.