What is Open Banking?
Open Banking is a technology built by banks to allow apps like Touco to look at your transactions.
What is OpenWrks?
OpenWrks is a provider of Open Banking that lets you safely share your transactions with apps you trust. In this case, that’s Touco.
Is it safe?
OpenWrks is as secure as your online banking, since Open Banking is extensively tested and regulated.
How are OpenWrks regulated?
OpenWrks are regulated as an Account Information Services Provider (AISP) by the Financial Conduct Authority, the same governing body that regulate banks.
Can my loved one change their mind about giving Touco access to their transactions?
Touco currently doesn’t manage this connection, so you’d need to go to your bank to revoke access. This can be done through their online banking.
Why do I need to renew access to my bank account every 90 days?
Every 90 days, you will need to reconnect and re-consent Touco's connection with your bank. This is part of the Open Banking standard to keep you in control of what apps can access your banking data.
A lot can happen in 90 days, so this is also an opportunity to review whether the banking transparency Touco provides has been useful and make any helpful changes.
Having difficulty connecting a bank account?
If you have further questions or feedback we'd love to hear from you.