Consumer Information
How Owdyn uses your bank data
Before you connect your bank account, here's exactly what Owdyn accesses, how we use it, and how you stay in control at all times.
What Owdyn accesses
When you connect a bank account, Owdyn retrieves the following data via read-only access:
- Account names and masked account numbers (only the last few digits — to identify which accounts you have)
- Account balances (current balance, and available balance where provided by your bank)
- Up to 90 days of transaction history on first connection
- New transactions on an ongoing basis (automatically refreshed every few hours)
Owdyn uses this data to display your financial picture — categorising transactions, tracking budgets, and calculating your Safe-to-Spend. We never sell your data. We only share it with the providers needed to run Owdyn — Akahu (the bank connection) and Anthropic (AI categorisation) — never for third-party marketing.
Automated categorisation (Plus & Wise)
On Plus and Wise plans, Owdyn sends transaction descriptions and amounts to Anthropic (Claude AI) to suggest categories. Descriptions are sanitised first — emails, phone numbers, and card, account and IRD numbers are stripped before they leave Owdyn. Anthropic does not train on or retain this data, and you can review or change every category. Full detail is in our Privacy Policy.
Type and duration of access
Access type
Read-only. Owdyn can only view your account data — we cannot move money, make payments, or make any changes to your bank account.
Duration
Ongoing. Access continues until you disconnect the account from Owdyn, or revoke access via Akahu. There is no expiry date.
Your controls
- Disconnect any bank account at any time from your Accounts page — this immediately revokes Owdyn's access.
- Delete your Owdyn account and all associated data (including bank connection tokens) is permanently erased.
- Revoke access independently via your Akahu account at my.akahu.nz at any time.
- A summary of all connected accounts is always visible in your Accounts page, regardless of your subscription status.
How we keep your data secure
- All data in transit is encrypted with TLS (HTTPS).
- Your bank access tokens are encrypted at rest using AES-256-GCM before being stored.
- Your internet banking password is never seen by Owdyn — it is entered directly with your bank via Akahu's secure hosted flow.
- Owdyn's systems are hosted on Vercel (global CDN) and Neon (AWS ap-southeast-2, Sydney).
Owdyn uses Akahu — New Zealand's open finance platform — to securely connect to your bank. Akahu is a registered Financial Service Provider in New Zealand and acts as the intermediary between Owdyn and your bank.
When you connect a bank account, you are redirected to Akahu's hosted consent flow where you log in directly with your bank. Owdyn never sees your internet banking credentials.