Open banking vs digital banks
Digital banks offer their own accounts. Open Banking lets regulated apps connect to your existing accounts. Beluga uses Open Banking to unify them all.
What is a digital bank?
A digital bank (or neobank) is a licensed bank that offers accounts and services entirely online. Examples include Monzo, Starling, and Revolut. You open an account with them and use their app. Your money sits in their institution.
What is Open Banking?
Open Banking is a UK and EU framework that lets you securely share your account information with regulated third parties (AISPs). You authorise your bank to share read-only data — balances, transactions — with apps like Beluga. Your bank never shares your login credentials. You can revoke access anytime.
How Beluga fits in
Beluga is an AISP. We use Open Banking to connect to all your bank accounts and show them in one dashboard. We are not a bank — we do not hold deposits or offer our own account. We aggregate and analyse. That means you can keep your existing digital banks, high-street accounts, and savings — and see everything in one place with Deepsight™ and Beluga Point.