How does Bud access my financial data, and is it safe?

Under the UK open banking initiative, all banks in the UK had to make their customer current account data accessible to third party providers (TPPs) by January 2018. The 9 biggest retail banks in the UK (known as the ‘CMA9’) have to do this via an API (‘application programming interface’). This is a fast and secure way to exchange information between two systems. For example, if you’re a customer of Lloyds bank, Bud can connect to Lloyds’ API to pull your account balance and transaction data from them.

APIs are very secure, and Bud uses state-of-the-art security and encryption technology to make sure that we look after your data. We’re also regulated by the FCA, and you can find us on the FCA register here.