Yes - The bank connection uses Open Banking, which is regulated by the FCA and uses robust security measures, including encryption and authentication protocols.
This connection has a number of important privacy features, including:
Read-Only Access: The connection only gives Konfir access to see certain transaction data. We never see or otherwise have access to sensitive information (e.g. login details or PIN), as you authenticate with your bank directly. Konfir never has access to do anything in your account (i.e. ‘write access’)
One-Time Access: Once the necessary data is retrieved, Konfir’s access is immediately closed. Konfir does not retain any ongoing access to view your banking data.
Data Minimisation: We only use the bank connection to determine your employment history and return a summary of this to your verifier - we don't share underlying transaction data with them or anyone else.
To learn more, visit https://www.openbanking.org.uk/why-open-banking-is-safe/