- Frequently Asked Questions - Mortgage Applications
How does it work?
It's as simple as logging into your online banking! First you will need to enter some basic information like your name and phone number, you will then be asked to select your bank and authenticate yourself using what's called "Open Banking". This looks just like your online banking login and is a service provided directly by your bank. consents.online will then attempt to make a secure connection with your bank account. This may take up to 2 minutes. Please wait until you see the screen that says, 'Connection Successful' before you close the browser window. consents.online works directly with the bank to provide this service, using Open Banking APls.
Who is consents.online?
consents.online is a regulated Account Information Service Provider (AISP), regulated by the Financial Conduct Authority. consents.online offer a quick, easy and secure way to share your information using Open Banking.
In addition to helping you share your data in a safe and secure way, consents.online also provides you with access to a free portal where you view, manage and revoke access to your data at any time. Should you choose to revoke access, it will mean that consents.online, and any services you previously granted access to, will no longer be able to view your information, unless they are required to store it by law.
What is Open Banking?
Open Banking is the secure way to give providers access to your financial information. Open Banking APls are made available to consents.online by your bank under the new Open Banking regulations. Open Banking is regulated, monitored and built on the principles of General Data Protection Regulation (GDPR). To access these APl's, consents.online must hold a licence and be authorised by the FCA.
Is this safe?
consents.online is authorised and regulated by the Financial Conduct Authority in order to act as an Account Information Service Provider (AISP). consents.online is authorised to access the Open Banking APls made available to it through the UK Government's Open Banking initiative. consents.online uses bank-level security as well as rigorously tested software and security systems. By using consents.online to share your data you're always in charge. You decide what information companies can access and for how long. No one gets access unless you say so. To provide the Open Banking service consents.online comply with the strict rules set out by regulators such as the Financial Conduct Authority (FCA) and the Information Commissioner's Office (ICO). Their Financial Conduct Authority (FCA) registration number is 792642. To see consents.online's credentials Click here.
Will I be charged for using this service?
No, it is completely free for all customers. How does consents.online connect with my bank? consents.online will connect to your account directly using Open Banking AP ls. An API or Application Programming Interface is a software intermediary that allows two applications to securely talk to each other. When it comes to Open Banking, think of it as secure packages of data being transferred between two places. It's extremely secure and delivers only what is necessary and nothing more. consents.online make a request via the API, your bank responds to it by packaging information up, encrypting it and sending back - but the distance between the two is always maintained.
