Final stage of Application Process

FAIRshare Open Banking

To complete your Loan Application we need a little more information from you.

We will need to verify your income and expenditure. We want this to be simple and safe for you, so we’ve teamed up with consents.online. They provide you with a secure way to share your information online using Open Banking technology.

It’s safe, fast and as easy as logging into your online banking. It gives consents.online permission to share your account information online or by using your mobile phone. They provide FAIRshare with read-only access to it so we can finish off processing your application.

How does it work?

• Log in as you would for online banking
• Enter basic information: name, phone number etc
• You will be asked to select your bank and authenticate yourself using what is called Open Banking. This looks just like your online banking login and is a service provided directly by your bank.
• consents.online will then attempt to make a secure connection with your bank account- allow a few minutes for this
• Please wait until you see the screen that says, ‘Connection Successful’ before you log off.
• consents.online work directly with the bank to provide this service, using Open Banking APIs.

Frequently Asked Questions

Who is consents.online?

Consents.online is a regulated Account Information Service Provider (AISP), regulated by the Financial Conduct Authority. Consents.online offer a quick, easy and secure way to provide your information, using Open Banking.
In addition to helping you share your data in a safe and secure way consents.online, also provide you with access to a free portal (available online and via an app). This allows you to see what you have shared so you can control and revoke access to your data at any time. Should you choose to revoke access, it will mean that consents.online and any services you previously granted access to will no longer be able to view your information, unless they are required to store it by law. This puts you in control of your data.

What is Open Banking?

Open Banking is a secure way to give providers access to your financial information. Open Banking APIs are made available to consents.online by your bank under the new Open Banking regulations. Open Banking is regulated, monitored and built on the principles of GDPR. To access these API’s consents.online must hold a licence and be authorised by the FCA.

Is this service safe?

consents.online uses rigorously tested software and security systems. By using consents.online to share your data you are always in charge. You can decide what information can be accessed and for how long. No one gets access unless you say so!
Is consents.online regulated?
Yes, consents.online are regulated by the FCA. To provide their Open Banking service they must comply with the strict rules of the Financial Conduct Authority (FCA) or a European equivalent.

How does consents.online connect with my bank?

Consents.online will connect to your account directly using Open Banking APIs. An API – or Application Programming Interface – is a software intermediary that allows two applications to securely talk to each other. When it comes to Open Banking, think of it as a secure package of data being transferred between two places. It’s extremely secure and delivers only what is necessary and nothing more. Consents.online make a request via the API, your bank responds to it by packaging information up, encrypting it and sending back – but the distance between the two is always maintained.

If you need any assistance or have further queries regarding Open Banking, please contact our helpful members services team.