# Mastercard Open Finance Solutions
source: https://developer.mastercard.com/open-finance-europe/documentation/index.md

## Welcome to the Mastercard Open Finance {#welcome-to-the-mastercard-open-finance}

Mastercard Open Finance in Europe provides a set of APIs that enables both licensed and unlicensed Third Party Providers (TPPs) to enrich their products, provide higher-quality services, and enable secure payment initiation. TPPs can either leverage Mastercard's Open Finance license or their own, if applicable, for multiple use cases including payment initiation. Mastercard offers a fully owned, globally scaled suite of services integrated with security, loyalty, payments, decisions, and data enrichment capabilities.

With our solution, the TPP does not need to integrate into all European banks. That would be time consuming, and banks have their own implementation of Open Finance APIs, hence we abstract complexity. To access the benefits of Open Finance, TPPs only need access to our API.

These guides and examples explain how TPPs can connect to their users financial data to make and receive payments using Open Finance.

Open Finance solutions in Europe are provided by Mastercard Open Finance Solutions.

## Open Finance APIs {#open-finance-apis}

Depending on the solution you want to develop and whether you have an Open Finance license or not, Mastercard provides a set of products to suits your needs.

#### Using your own license {#using-your-own-license}

Open Finance connectivity for TPPs with a suite of additional managed services, enabling you to build with Open Finance whilst staying in full control as a TPP **(Aiia Enterprise)** as well as retrieving actionable data insights **(Insights)**.

[Learn more →](https://developer.mastercard.com/open-finance-europe/documentation/licensed/aiia-enterprise/index.md)

#### Using Mastercard's license {#using-mastercards-license}

Leverage our Open Finance license to access raw account and transactional data **(Aiia Data)** , make or receive payments **(Aiia Pay)** as well as receive actionable data insights **(Insights)**.

[Learn more →](https://developer.mastercard.com/open-finance-europe/documentation/unlicensed/index.md)

## What is Open Finance? {#what-is-open-finance}

Open Finance is a technology that allows account data sharing and payment initiation between Account Servicing Payment Service Providers (ASPSPs) and Third Party Providers (TPPs) in a way that benefits the data owners, users. Open Finance simplifies the process of accessing financial data and makes it more secure.

### How it works {#how-it-works}

![](https://static.developer.mastercard.com/content/open-finance-europe/uploads/open-finance-3.svg)

1. A user accesses a TPP's service that requires use of their financial data.
2. The TPP initiates workflow using the Mastercard Open Finance Solution.
3. The Mastercard Open Finance Solution requests the user to provide consent to access their financial data.
4. The user provides consent.
5. The Mastercard Open Finance Solution redirects the user to the ASPSP to authorize access to their data.
6. The ASPSP requests the user to authorize the data sharing.
7. The user selects the accounts to which access is required and authorizes the access.
8. The ASPSP returns the requested customer's financial data to the Mastercard Open Finance Solution.
9. The Mastercard Open Finance Solution provides the requested data to support the TPP service.
10. The TPP provides the requested service to the user.

## More information {#more-information}

Refer to our [FAQs](https://developer.mastercard.com/open-finance-europe/documentation/faq/index.md) for information on common questions.

For real-world examples of how to apply our APIs, refer to the using your own license [Use Cases](https://developer.mastercard.com/open-finance-europe/documentation/licensed/index.md) and using Mastercard's license [Use Cases](https://developer.mastercard.com/open-finance-europe/documentation/unlicensed/use-cases/index.md) sections as required.

## Get help {#get-help}

Complete the [Contact Us](https://openbankingeu.mastercard.com/contact-us) form if you have any questions or require assistance.