Mark White-Robinson

As luck, I've got way busier doing the startup.

I've kind of forgotten about it.

And ironically, I don't look at it now.

I just, I've kind of just happening in the background.

And when I do go look at it, I'm like, well, that's pretty good.

So Fijo uses open banking, right?

That's how we get access to the data and the ability to share payments to provide ourselves.

I can get a bit down how that works from a technical level in a bit.

But what it actually is, is open banking is under the, it's called the Consumer Data Right.

That's the bit of legislation that was passed

And the idea is that there's all these companies out there in various different industries, and banking was the first one they approached or they took on, who have a lot of data about you.

And so the consumer data right in open banking, that is a legislative reflection of the fact that that data is actually about you and therefore you should be in control.

So what open banking does is it allows you to say –

hey bank, that's got all my data.

I'd like you to share this with a third party, in our case Fijar, to allow Fijar to provide me a service.

So you, from a technical point of view, when you sign up to Fijar, you go through a open banking flow.

and that basically connects your bank account to our service so with the big four banks and soon kiwi bank that's like a really clean automated thing it throws you to your banking app to authorize it and you can put guardrails around you know how much is coming out and things like that which is all in control there you can how much data is coming out you mean

Payments as well, yeah.

But you control what data's going by, what bank accounts you connect.

You don't have to connect everything.