Am I required to share my online banking password?

Understanding How Your Bank Data is Shared Securely with Frollo

When applying for a loan with the help of your Broker, you might be wondering how your bank information is shared. Here’s a breakdown of the process and what you need to know about security:

No Password Sharing Required

You will never be asked to provide your online banking password to Frollo. Your security is our top priority.

1. Sign In to Your Frollo Account

First, you’ll need to sign in to your Frollo Account.

2. Data Holder (Bank) Login Page

After signing in to your Frollo Account, you will be presented with a login page directly from your Data Holder (your bank).

3. One-Time Passcode (OTP) from Your Bank

Your bank will provide you with a One-Time Passcode (OTP) via SMS or your Banking App. This OTP is used to securely log in to your bank’s Consumer Data Right (CDR) site.

4. Sharing Open Banking Data

Once logged in to your bank’s CDR site using the OTP, your bank will provide information about Open Banking and a list of eligible Linked Bank Accounts to share data from.

5. Repeat for Each Bank

This process will be repeated for each Data Holder (bank) from which you wish to share your Open Banking data.