Sharing your data with accredited providers.
What does this mean for me as a customer?
From 1 July 2021, eligible Financial Log Bank customers will be able to authorise the sharing of their data with CDR accredited service providers who offer a financial product or service via their app or website, for example, a budgeting tool.
This means you’ll be able to share banking data, such as:
- customer and account details,
- transaction history, or
- account balances.
To be eligible to use Open Banking you must:
- be over the age of 18,
- have at least one open Financial Log Bank account, owned either individually, or jointly with one or more other individuals aged over 18,
- have access to e-banking.
How do I share my data?
You will always start the data sharing process via an accredited provider’s website or app. If the product or service they offer requires access to your banking data, they will ask you to agree to share your data and let you know what information will be required. They will also advise you if this data will be accessed as a one-off, or if it will be an ongoing data sharing arrangement (which can be for up to 12 months).
If you agree to share your data, the provider will redirect you to Financial Log Bank. We will ask you to enter your e-banking Access ID and then send an SMS to your mobile phone with a one-time password. Once you have entered the password, just follow the prompts to confirm the data you wish to share, and we’ll securely provide the data to the accredited recipient.
Sharing data for joint accounts
Before a data sharing arrangement can be set up for a joint account, all account owners need to “allow sharing” on that account prior to starting the process with a provider. All customers need to:
- sign into e-banking
- go to the Data Sharing & Permissions menu
- select joint accounts
- select the button next to the account they wish to allow sharing on
Once all customers have allowed sharing, any account owner can then set up a data sharing arrangement with an accredited provider.
How do I view, manage, or stop data sharing?
You can easily manage or stop a data sharing arrangement by logging onto e-banking and going to “Data Sharing & Permissions”.
You can find the Data Sharing & Permissions menu under the “more” menu in the app, or the “settings” menu in the desktop version of e-banking.
What if I don't want to share my data?
Sharing your data is entirely your choice. If you’re offered a product or service that requires you to share your data, the decision to proceed, or not, will always be yours. We’ll never share your data without your consent.
Work in progress
Whilst data sharing is enabled for the Financial Log Bank brand there are some components that we are still working on.
Further information and support
If you need assistance or have questions about sharing data from your Financial Log Bank accounts please call us.
Phone
If you have clicked on any suspicious links and entered your e-banking details:
Call +477
Monday to Friday - 8am to 6pm UTC
Weekends (Saturday and Sunday) and some public holidays - 9am to 6pm UTC