Open Banking in Israel: What Business Account Data Can Be Retrieved Automatically

Open banking is not a general permission to “connect the bank.” It is a route in which the customer grants defined consent, for defined period and data scope, through an authorized party and available service. Before development, decide which business decision you want to improve: reconciliation, cash forecast, balance alert, or document collection.

Do not start by collecting every transaction. Define minimum data: account, date, amount, currency, description, transaction ID, and retrieval time. Retain consent time and connection status. When consent expires or connection fails, the system must stop retrieval and explain what the user must renew.

A bank movement is not final accounting classification. The system can propose a match, but must retain approval, split, and exception options. Do not use a user credential or unauthorized collection as a substitute for an approved route.

Source

Bank of Israel