Truist Financial (TFC) said Thursday that it has launched a secure open banking integration that initially connects to Mastercard's (MA) open finance technology.

Financial details of the collaboration were not disclosed.

The bank said the new application programming interface platform allows consumer and small business clients to link their accounts directly to selected financial technology applications through Mastercard's system.

Truist said the setup gives users control over which third-party services can access their data without requiring login credentials to be shared.