What we do with your data

Introduction

At Frollo, our core mission is simple: we want to help you feel good about your money. To make that happen, we use secure, government-regulated Open Banking technology to connect your financial accounts in one place. By doing this, we take on the financial heavy lifting: whether you are looking to take control of your everyday spending or preparing to apply for a loan.

Connecting your accounts allows you to leave behind the frustration of manual spreadsheets and the stress of endless loan paperwork. Instead, you gain automated, real-time clarity. Depending on your specific needs, we collect and use your data to power these two distinct experiences:

• For your everyday finances: We build a highly personalised budgeting dashboard that automatically tracks your spending, bills, and savings goals.
• For your home loan goals: We instantly generate a secure Financial Passport. This comprehensive financial profile can be safely shared with a Trusted adviser (like your Mortgage broker) to fast-track your finance application.

Regardless of how you choose to use Frollo, our goal for collecting your data remains exactly the same: to save you time, provide total financial clarity, and help you reach your goals faster.

Your data, your control.

Most importantly, you are always in the driver's seat. We believe in complete transparency, which means your data is exactly that: ‘yours’. If at any point you decide to stop using Frollo, you can withdraw your consent instantly within the app. The moment you do, all financial data associated with that consent is permanently deleted or securely de-identified, giving you total peace of mind.

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1. Unlocking smart financial insights (For everyday tracking)

If you are using Frollo to manage your personal finances, we collect your data to build a dashboard that is entirely unique to you.

• Automated budgeting: We automatically categorise your transactions (e.g., Groceries, Rent, Entertainment) so you know exactly where your money goes without manual tagging.
• Proactive alerts: We identify recurring payments and subscriptions to let you know when they are coming up, and alert you if you have insufficient funds to cover an upcoming tracked bill.
• Goal & Net worth tracking: We combine your linked assets and liabilities to give you a real-time view of your overall financial position and track your progress toward your savings goals.

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2. Fast-tracking your finance applications (For home loan applications)

If you are using Frollo to share data with a Trusted adviser, we collect your data to generate a streamlined Financial Passport, a comprehensive profile of your income, expenses, and liabilities.

• Ditch the paperwork: Say goodbye to digging up old payslips, downloading PDFs, or sending highly sensitive bank statements over unsecured emails.
• Meaningful conversations: We automatically calculate your living expenses, allowing your broker to focus on finding you the best loan recommendation rather than manually crunching numbers.
• Faster loan application submission: Lenders trust Open Banking data because it comes directly from your bank. This credible, system-to-system data reduces processing delays and speeds up your loan assessment.

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3. Upgrading your security

With Open Banking, we collect your data using a vastly superior, Government-regulated alternative.

• Zero password sharing: For CDR consents, we never ask for your bank login credentials. You authenticate directly and securely with your bank.
• Bank-level encryption: Your data is synced, and if applicable, shared with your broker via a highly secure, encrypted system-to-system transmission.

With screen-scraping, Frollo has partnered with Yodlee, a global leader in the secure hosting and encryption of financial data that uses bank-grade security and data encryption services. Yodlee is used by many major international banks and trusted by over 70 million users worldwide.

Learn more about Frollo’s Security policy

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4. Your Privacy and Control

Frollo is Australia's leading Open Banking provider and an Accredited Data Recipient regulated by the Australian Competition and Consumer Commission (ACCC). We operate under the strict rules of the Consumer Data Right (CDR).

• You are in total control: Your consent is voluntary and informed. We only collect data from the specific accounts you choose to link.
• Manage or stop sharing anytime: You choose how long you share your data. You can withdraw your consent, stop sharing, and request the deletion of your data at any time with a single tap in the Frollo app's Consent dashboard.
• No hidden agendas: Frollo adopts a strict data minimisation approach. We do not sell your personal identity or raw data to third parties.

Learn more about Frollo’s Privacy policy

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What you need to know:

What specific data does Frollo collect?

Once you connect an account, we collect the institution name, account name, BSB/Account number, available balances, interest rates, and your transaction history (descriptions, merchant names, dates, and amounts).

• Learn more about Accounts and providers at Frollo
• Learn more about Transactions and categorisation at Frollo

Why does Frollo collect my personal details like residential address or occupation?

When you connect an account through Open Banking, banks automatically send a standard set of contact details. However, just because we receive it, doesn't mean we use it. We strictly limit how we apply this data:

Personal detail	How and why it is used
Name	Used as the primary identifier to confirm your legal identity (especially important if generating a Financial Passport). See a demo of Financial Passport Learn more about Financial Passport ‘Insights document’ and see an example
Residential Address	Crucial for generating your Financial Passport, exporting transactions, and assisting with loan assessments, connecting you with Trusted advisers. Learn more about Trusted Advisers Learn more about Open Banking generated account statements and examples
Phone & Email	Rarely used. We only collect this for mandatory Know Your Customer (KYC) identity checks if strictly required.
Occupation	Mostly not used.

Why can't I opt out of sharing my personal details?

Under the Open Banking (CDR) framework, banks group your basic contact details into a standard, mandatory data block when you connect an account. Frollo collects this specific data to power two main features: generating your Financial Passport and ensuring a fast, seamless loan application process if you are working with a Trusted Adviser (like a mortgage broker).

If you are only using Frollo for everyday budgeting and are not applying for a loan, please be assured we apply a strict data minimisation policy. We securely receive this standard data from your bank, but we do not actively use your personal details, your contact details remain securely encrypted in the background, we only use the transaction data needed to power your personal finance management function, and we never sell data.

How long do you keep my data?

Only for as long as you allow us. When you set up a consent, you choose the duration (e.g., up to 12 months). Once consent expires or is withdrawn, we stop collecting data and delete or de-identify existing data as per your preference in the app.

How often is my data shared with my Mortgage broker (Trusted adviser)?

During the Consent period you have chosen, your Mortgage broker can refresh your data at any time. This means your data might be shared multiple times while your consent is active. You will not be notified each time your Mortgage broker refreshes your data.

See our FAQs about Data sharing with Mortgage broker

Is my data shared with anyone else other than Frollo?

Frollo uses supporting parties to provide help for this service. They can access the data you have agreed to share but only for:

• CDR consent management
• Data collection
• Categorisation
• Customer service support

Unless you share your data with your Mortgage broker, there is currently only 1 supporting party for this service:

NextGen.Net Pty Ltd
Accreditation number: ADRBNK2013
Website: https://www.nextgen.net/
Email: cdr@nextgen.net
Consumer Data Right policy: https://www.nextgen.net/cdr-policy/

NextGen.Net Pty Ltd (NextGen) is Frollo's parent company.

Both Frollo and NextGen are wholly Australian-owned and operated, with offices in North Sydney and Newcastle, New South Wales.

Learn more about Frollo and NextGen

How long does the setup process take?

Most users complete the bank connection and consent process in about 3 to 5 minutes. Once completed, your dashboard populates instantly, and if applicable, your information is securely shared with your broker within minutes.

I’ve used Frollo for a long time. Why are you suddenly asking for my name, phone number, address, and occupation?

We recently upgraded our platform to support two powerful new features called the Financial Passport and Share data with your Trusted adviser. These features help users fast-track loan applications by securely generating a comprehensive financial profile to share with Trusted advisers (like Mortgage brokers).

How does Frollo access my financial information via Open Banking?

• With Open Banking, you must provide explicit consent before any data sharing occurs. This consent allows access to data from specific linked bank accounts for a designated time period.
• No need for login credentials: Unlike screen scraping, Open Banking does not require you to share your online banking login credentials (username and password). Instead, your bank provides an Open Banking-specific login page and a One-Time Passcode (OTP) via their communication method (e.g., SMS or their banking app). This significantly reduces the risk of unauthorised access or data breaches.
• Secure APIs and encryption: Open Banking relies on secure APIs and encryption to transmit and handle financial data, ensuring it is safeguarded during transmission and storage.
• Data minimisation: Open Banking follows the principle of data minimisation, meaning only the necessary data required for the assessment is accessed, reducing the exposure of sensitive information.
• Easy consent revocation: Open Banking allows you to revoke your Consent at any time through the Frollo platform, giving you control over your data.

How does Frollo access my financial information via screen-scraping method?

• Our aggregation partner Yodlee uses bank login information to access your account and collect your data for us to analyse. Bank information is encrypted using bank grade encryption protocols.

How do I withdraw my data sharing?

If you no longer want to share data from a bank, you can withdraw the consent. Once withdrawn, your data will stop syncing from that institution.

You can withdraw your consent at any time by going to Settings Data sharing [Your bank] or raise a support ticket through our Help centre.

How do I know my Personally Identifiable Information (PII) is safe with Frollo?

We understand that sharing your residential address and phone number requires a high level of trust. Frollo is an Accredited Data Recipient regulated by the Australian Competition and Consumer Commission (ACCC). This means our cybersecurity policies, encryption standards, and data handling practices are subjected to rigorous, ongoing government audits.

Your data is protected by industry-leading, bank-grade encryption protocols. You always retain the right to instantly withdraw your consent and request the deletion of your data at any time via the Consent Dashboard in the app.

How do I ensure my data is safe in case I stop sharing with Frollo?

Once withdrawn, your data will stop syncing from that institution.

• You will no longer be able to see your data with the Frollo app and web or use it for the purpose of personal financial management.
• Your data is permanently removed from our system.
• If you don't have any other consents with your Frollo user, your user account will become inactive and will be deleted from our system after 12 months.