Open banking is a legislated financial services practice that gives customers the ability to share their banking data with third parties that have been accredited by the ACCC.

Sharing your data with Douugh is as simple as connecting an account in-app via our open banking partner Basiq, which allows service providers like us to provide you with more tailored products and experiences.

Who is Basiq?

Basiq provides platforms for businesses like ours to receive your open banking data and build innovative, tailored financial solutions. Used by many reputable organisations, Basiq has a range of in-built safety features that you can learn all about here.

They have also developed an in-depth guide to Open banking so if you want some more insight, you may be interested in checking out their guide here.

A quick note - we have built Douugh to help people from all walks of life create rewarding money habits. We appreciate that some of our customers may hesitate to connect their accounts via an open banking solution (Basiq), especially as the technology is relatively new.

We completely get it. While opening banking is completely safe and we only use the technology to provide the best services we can, we respect your choice and have a range of manual (non-open banking) options available.