Data Security & Bank Policies
Here at SortMe, we take the security of your data seriously and adhere to strict protocols to ensure its protection. For more information on how SortMe prioritises security, please visit our Data Security overview page.
Bank Terms and Conditions and Policies Regarding Third-Parties
In the realm of digital finance, concerns about third-party applications often arise due to bank terms and conditions. Here's what you need to know about this aspect of security:
Understanding Bank Terms and Conditions
Banks typically include clauses in their terms and conditions that caution against linking accounts to third-party software. This is because they aim to distance themselves from any potential issues that may arise between users and these external applications. Even if there is no actual risk. The banks also want to keep you in their ecosystem and are not incentivised to allow you to use your data outside the systems they control.
The banks' stance doesn't necessarily mean that using third-party apps like SortMe is unsafe or against the law. Instead, it reflects their desire to protect their own interests and limit liability.
What It Means for You
You should be in control of your data. Every integration with a third party is a vote towards a more inclusive ecosystem. The banks will not change until you, their customers, along with the government, tell them to. So let's support a more inclusive and connected ecosystem.
Open Banking is coming
Change is coming with the introduction of open banking legislation. This legislation aims to increase competition and innovation in the banking sector by allowing customers to share their financial data securely with third-party providers. Giving you, the user, better control over your data.