Summary
Konfir uses Open Banking to retrieve specific banking data that evidences employment and income. This article explains exactly what data is (and isn’t) provided, and how Konfir processes it into a verification.
What Open Banking provides
With applicant consent, Konfir retrieves the following information from their transaction history:
Data Point | Example | How Konfir uses it |
Payor name | “TESCO PAYROLL” | To identify the employer making payments |
Date | 01/12/2022 | To confirm regularity and duration of income |
Amount | £1,250 | To evidence income level |
Category | Employment income, pensions, benefits | To detect alternate income types when relevant |
What Open Banking does not provide
Open Banking connections are limited in scope by design. The following are never shared.
Account details
Account balances
Spending history
Login credentials (username, password, memorable data)