Prift gets FCA approval

September 2023
Prift News
min read

Approval received from the Financial Conduct Authority

Prift gets FCA approval for Account Information Services

We are thrilled to announce that Prift has received approval from the Financial Conduct Authority (FCA) to provide Account Information Services (AIS) in the UK. This means that we can offer our users a secure and convenient way to access and manage their financial data across multiple accounts and providers.

What are Account Information Services?

Account Information Services are a type of Open Banking service that allow you to share your financial data with authorised third parties, such as Prift. By giving your consent, you can enable Prift to access your account information, such as balances, transactions, and spending patterns, from different banks and financial institutions. This can help you get a holistic view of your finances, track your spending habits, and discover new ways to save money.

How does Prift use Account Information Services?

Prift will use AIS to provide is a personal finance platform that helps you take control of your money and achieve your financial goals. With Prift, you can:

  • Connect your bank accounts and credit cards to see all your finances in one place.
  • Analyse your income and expenses to understand where your money goes and how you can budget better.
  • Set up personalised savings goals and track your progress towards them.
  • Receive a personalised forecast of your finances to retirement and beyond.

By using Account Information Services, Prift can provide you with a more accurate and comprehensive picture of your financial situation and offer you more relevant and personalised financial guidance. You can also benefit from faster and smoother account verification and authentication processes when using Prift.

How do I start using Account Information Services with Prift?

When launched, you can add and choose which bank accounts, credit cards and financial institutions you want to connect to Prift. You will be redirected to your bank’s website or app to give your consent for Prift to access your account information. You can revoke your consent at any time through your bank or through Prift.

How does Prift ensure the security and privacy of my data?

Prift takes the security and privacy of your data very seriously. We use state-of-the-art encryption and security protocols to protect your data in transit and at rest. We only access your account information with your explicit consent and we never store your login details or passwords. We also comply with the General Data Protection Regulation (GDPR) and the Payment Services Directive 2 (PSD2), which set the highest standards for data protection and consumer rights in the UK and Europe.

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