What is Open Banking?
Is Open Banking secure?
Yes, Open Banking is secure.
Open Banking is supported by the CMA (Competitions and Markets Authority) and any provider of Open Banking is required to be authorised by the FCA (Financial Conduct Authority).
Canopy use an intermediary, Plaid, to securely access your banking data and keep it secure. Role-based access controls are enforced at each layer of infrastructure. Multi-factor authentication is required for access to Plaid infrastructure. All application and user access logs are stored centrally and monitored.
Why are you asking for my log in details?
We do not ask for your log in details. Open banking will direct you to your banking app or banks website in order for you to log in to authorise the connection. We do NOT see or store this information.
Do I have to provide you with access to Open Banking?
No. You are not required to give us access to Open Banking, it is opt-in only.
Do I need to use Open Banking to verify my income and past rental payments?
Open Banking is a lot quicker and secure.
Am I automatically opted in to Open Banking?
What is the purpose of Open Banking based verification?
What is rental affordability?
How will you use my data?
We will not use your data for personal gain. We will not sell your data.
Whenever, there is a new need or new purpose, we will include that in our notices to you in our app.
You do not appear to be listed on the Open Banking register?