Open Banking is the new way you can give third-party providers like August access to your financial information safely and securely. It was introduced by the UK Government to put the power of your financial information back in your hands.

With Open Banking, you’re never asked to share security details. You’ll be asked to authenticate your details using a combination of a password or PIN, fingerprint or facial recognition, and a mobile phone message or card-reader.

Open banking has been designed with security at its heart, here’s how:

• Bank-level security – Open Banking uses rigorously tested software and security systems. You’ll never be asked to give access to your bank login details or password to anyone other than your own bank or building society.

• It’s regulated – only apps and websites provided by firms which are regulated by the FCA can enrol in the Open Banking Directory.

• You’re in charge – you choose when, and for how long, you give access to your data.

• Extra protection – your bank or building society will normally refund your money if unauthorised payments are made. You’re also protected by data protection laws, and you can make a complaint to the Financial Ombudsman Service as well.

Augur Technologies Limited, doing business as August is an agent of Plaid Financial Ltd., an authorised payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (Firm Reference Number: 804718).

Plaid provides you with regulated account information services through August as its agent.