Compliance, Explained

How BankSync operates under regulated open banking frameworks. Who holds the licence, what data flows where, and how you stay in control.

Penny's provider map

BankSync can explain the route, but each licensed provider, bank, brokerage, data holder, destination, and future integration may have its own terms, controls, and legal obligations.

How BankSync accesses your financial data

BankSync operates as an intermediary under regulated open banking frameworks. We do not hold banking licences or data-access accreditations directly. Instead, we partner with licensed providers in each region, each of which holds the appropriate authorisation to access financial data on your behalf.

Importantly, BankSync uses pass-through processing by default. Full banking datasets are retained only where a feature you enable requires storage, such as a future BankSync Tables feature or another managed destination, or where needed for support, security, compliance, backups, or legal requirements.

Active Frameworks

3 active

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Open Banking (UK)

United Kingdom · FCA Open Banking / PSD2

Beta

Licensed Provider

Salt Edge Limited

FCA Financial Reference Number (FRN): 822499

71–75 Shelton Street, London WC2H 9JQ

Data Types

Transaction historyAccount balancesAccount details

Regulatory Disclosures

1BankSync does not hold its own FCA authorisation or registration. UK Open Banking access is provided through Salt Edge Limited, a Registered Account Information Service Provider (RAISP) authorised by the Financial Conduct Authority (FCA FRN 822499, Companies House 11178811, 71–75 Shelton Street, London WC2H 9JQ).
2BankSync accesses UK bank data under a data-sharing arrangement with Salt Edge Limited. Salt Edge Limited bears regulatory responsibility to the FCA for UK Open Banking data access.
3Data accessed via Salt Edge is used to provide the service you request. Within the BankSync Boundary, BankSync does not sell your banking data, use it for advertising or data brokerage, disclose identifiable banking data for another party's independent commercial exploitation, or use customer banking data to train AI or machine-learning models.
4Financial data obtained via UK Open Banking is pass-through by default. It is stored only where you enable a BankSync-managed feature that requires storage, such as future BankSync Tables, or where needed for support, security, compliance, backups, or legal requirements.
5Salt Edge Limited and BankSync act as joint data controllers at the point of data sharing under UK GDPR. BankSync becomes the sole data controller once data has been received and forwarded to your connected destination.
6You may revoke Open Banking consent at any time through your bank's consent dashboard or by contacting BankSync support.

Full provider disclosure: Salt Edge Limited

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Open Banking (US)

United States & Canada · CFPB Section 1033 / Plaid Exchange

Live

Licensed Provider

Plaid Technologies, Inc.

CFPB: CFPB-registered data aggregator

San Francisco, CA, USA

Data Types

Transaction historyAccount balancesAccount details

Regulatory Disclosures

1US and Canadian bank connections are facilitated through Plaid Technologies, Inc., a CFPB-registered financial data aggregator operating under CFPB Section 1033 rules and bilateral data-sharing agreements with financial institutions.
2BankSync does not store banking credentials. Authentication is handled directly between Plaid and your financial institution using tokenised connections.
3Data accessed via Plaid is used to provide the service you request. Within the BankSync Boundary, BankSync does not sell your banking data, use it for advertising or data brokerage, disclose identifiable banking data for another party's independent commercial exploitation, or use customer banking data to train AI or machine-learning models.
4Financial data obtained via Plaid is pass-through by default. It is stored only where you enable a BankSync-managed feature that requires storage, such as future BankSync Tables, or where needed for support, security, compliance, backups, or legal requirements.
5You may revoke Plaid access at any time via the Plaid Portal (my.plaid.com) or by disconnecting the bank from within BankSync.

Full provider disclosure: Plaid Technologies, Inc.

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Investment Data (US)

United States & Canada · SnapTrade API / brokerage partnerships

Live

Licensed Provider

SnapTrade

N/A: Brokerage API aggregator

Data Types

Portfolio holdingsTrade historyAccount balances

Regulatory Disclosures

1Investment portfolio and brokerage data is provided via SnapTrade, a financial data aggregator with direct API partnerships with US and Canadian brokerage providers.
2BankSync does not store brokerage credentials. Authentication is handled directly by SnapTrade and your brokerage.
3Investment data accessed via SnapTrade is used to provide the service you request. Within the BankSync Boundary, BankSync does not sell your investment data, use it for advertising or data brokerage, disclose identifiable investment data for another party's independent commercial exploitation, or use customer investment data to train AI or machine-learning models.
4Investment data is pass-through by default. It is stored only where you enable a BankSync-managed feature that requires storage, such as future BankSync Tables, or where needed for support, security, compliance, backups, or legal requirements.

Full provider disclosure: SnapTrade

Draft Frameworks

1 draft

Draft — BankSync has not been appointed as a CDR RepresentativeThis page is a draft. BankSync has not been appointed as a CDR Representative of Fiskil Pty Ltd, and no CDR connectivity is live. Details below describe the intended arrangement and may change before launch.

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Consumer Data Right (CDR)

Australia · CDR Open Banking (ACCC)

Draft

Licensed Provider

Fiskil Pty Ltd

ACCC CDR Accreditation: ADRBNK000246

Australia

Data Types

Transaction historyAccount balancesAccount details

Regulatory Disclosures

1This page is a draft. BankSync has not been appointed as a CDR Representative of Fiskil Pty Ltd, holds no CDR accreditation of its own, and is not currently authorised to access CDR data under the Consumer Data Right regime.
2The intended arrangement is for BankSync to be appointed as a CDR Representative of Fiskil Pty Ltd (CDR Registration ADRBNK000246) under CDR Rule 1.10AA, with Fiskil acting as our CDR Principal and collecting and disclosing CDR data on our behalf under Fiskil's CDR Policy. None of this is in effect today.
3BankSync does not currently appear on the ACCC's public CDR Register as a CDR Representative. The disclosures below describe the proposed model and will only become operative if and when that appointment is executed and published.
4Consent is collected through Fiskil's hosted consent screen. Maximum consent duration is 12 months (CDR Rule 4.14). You receive advance notice before expiry.
5CDR data is used to provide the service you request. Within the BankSync Boundary, BankSync does not sell CDR data, use it for advertising or data brokerage, disclose identifiable CDR data for another party's independent commercial exploitation, or use customer CDR data to train AI or machine-learning models.
6Financial data obtained under CDR is pass-through by default. It is stored only where you enable a BankSync-managed feature that requires storage, such as future BankSync Tables, or where needed for support, security, compliance, backups, or legal requirements.
7Upon account deletion or consent revocation, all active CDR consents are immediately withdrawn and connection data is queued for deletion.
8CDR complaints can be directed to Fiskil Pty Ltd or to the Australian Financial Complaints Authority (AFCA) and the Office of the Australian Information Commissioner (OAIC). Applicable laws include the Privacy Act 1988 (Cth), Competition and Consumer Act 2010 (Cth), and the Consumer Data Right Rules.

Full provider disclosure: Fiskil Pty Ltd

Data Flow Architecture

Regardless of which regulatory framework applies to your region, BankSync uses the same pass-through architecture:

1Your bank authenticates you directly via the open banking API.
2The licensed provider (Fiskil, Salt Edge, Plaid, or another regional provider) retrieves your account data under their authorisation or terms.
3For pass-through syncs, BankSync receives the data in a short-lived worker step and forwards it to your configured destination.
4For BankSync-managed destinations such as future BankSync Tables, data may be stored inside the BankSync Boundary until you delete, export, share, or sync it elsewhere.
5Data sent to customer-selected destinations (Notion, Google Sheets, Airtable, APIs, webhooks, and future destinations) is then governed by your account settings and that provider's terms.
6BankSync retains operational metadata such as feed configuration, sync timestamps, and error logs so the service can run, recover, audit, and support your account.