Open Banking: How We Keep Your Data Safe

Open banking is a UK framework that lets authorised providers read your bank data with your explicit consent. For Financial IQ, it means your transactions and balances can come in without you ever sharing your banking login with us. You sign in with your bank directly, on its own screens, and only the data you agree to share comes through.

Our bank connections run through GoCardless, which holds the open banking authorisation as an authorised account information service provider in the UK. The connection is read-only. It can see your account details, balances and transactions, and it has no way to make a payment. You approve it in the way your bank asks, usually in its app, and you can disconnect at any time from Financial IQ or from your bank.

On our side, data is encrypted in transit and at rest. Every database table is protected by row-level security, so one account cannot read another's data, and bank tokens and transaction details are on a list of values that are never written to logs. We hold no security certifications yet and have not yet had an independent penetration test. The security page says so plainly, and lists every company that processes data on our behalf.