Open Banking & Data Use Notice
What Open Banking helps us do
Open Banking can help Secure Finance review your home loan details using data you choose to share. This makes it easier to assess whether your current rate could be improved and whether there may be a meaningful saving opportunity.
Frollo's role
Secure Finance uses Frollo's Open Banking/CDR service to support secure data sharing. Frollo is an accredited data recipient under Australia's Consumer Data Right, regulated under the CDR framework. Frollo adopts a data-minimisation approach, stores CDR data in secure systems located in Australia, and does not share your data without your consent or use it for direct marketing by third parties.
Your control and consent
You choose whether to use Open Banking. You will be asked to select your bank, authenticate directly with them, choose the accounts or data to share, and confirm the consent period. Frollo provides a consent dashboard where you can see what you've shared and revoke your consent at any time. You may use the manual form instead at any time.
Review-only purpose
Open Banking data sharing is used for reviewing and monitoring your loan. It does not give Secure Finance or Frollo the ability to move money or make changes to your bank accounts.
No banking password shared
The Open Banking process never asks you to provide your online banking password to Secure Finance. You authenticate directly with your own bank.
What we use the data for
- Reviewing your current home loan rate and loan details.
- Assessing whether a current-lender rate review or refinance may deliver a meaningful saving.
- Preparing for a broker discussion if a review opportunity is identified.
- Supporting loan application preparation if you later choose to proceed and provide any required consents.
Deletion
Under Frollo's CDR Policy, data shared under your consent is deleted when your consent expires or is withdrawn, when you request data sharing to stop, or when you delete your account — subject to any records required to be held by Australian law.
See also: Privacy Policy · Open Banking & Security · official CDR guidance at cdr.gov.au.