Is data sharing secure?

Is data sharing secure?

Yes, data sharing via Open Banking is secure. It is safer than traditional methods such as screen scraping because it uses government regulated, encrypted, and API-based technology. You are not required to give your internet banking login credentials to share your data. You maintain control of what data is shared, how long it is shared, and you can revoke an arrangement at any time. 

Accredited providers must comply with privacy and security requirements and be accredited by the Australian Competition and Consumer Commission (ACCC).