Open banking. Sounds scary. Isn’t.

Hey flat boss,

You’ve probably seen us mention “open banking” and thought:

“Are you about to log into my bank and go rogue?”

Fair. Good question.

Let’s break it down — flatmate edition.

First up: what even is open banking?

Open banking is just a secure way for you to let apps (like Flatly) talk to your bank.

With your permission.

Not sneaky. Not hacky. Not “OMG Dave knows my PIN now.” (sorry Dave...)

It’s regulated tech that banks built so you don’t have to:

• Manually screenshot transactions

• Copy/paste bill totals

• Chase Tom for the 4th time about the power bill

  
  

It’s how rent auto-splits.It’s how bills track themselves.

It’s how Flatly kills admin.

Heaps easier.

“But is it actually safe though?”

Short answer: yes. Properly yes.

Here’s why:

1. We never see your password. Ever.

When you connect your bank, you log in on your bank’s secure page — not inside Flatly.

We don’t touch:

• Your login

• Your password

• Your two-factor codes

  
  

You authenticate directly with your bank. We just get permission to read the specific transaction data needed to split rent and track bills.

That’s it.

2. Permission-based access.

Flatly cannot just touch your money.

We can’t:

• Randomly move funds

• Transfer cash behind your back

• Empty your account

• “Just quickly borrow $20”

• 
  

If money ever moves, it’s because you approved it.

You’ll see it.You’ll confirm it.You’re in control.

Open banking lets us read transactions to keep the flat sorted — and only action payments when you’ve explicitly said so.

3. It’s bank-level secure.

Open banking runs on encrypted APIs (basically secure digital tunnels between banks and apps).

Same level of security your bank uses internally.Same type of tech used by accounting platforms and finance apps.

It’s not a hack. It’s not a workaround. It’s literally what banks built for this.

Why we use it

Because flat admin is feral.

You know when:

• The whiteboard chore chart mysteriously vanishes?

• The group chat dies mid "who’s got the power bill?”

• One person pays everything and quietly builds resentment?

  
  

Open banking means:

• Rent auto-splits

• Bills track themselves

• No one becomes the unpaid flat accountant

  
  

Sweet as.

“Can I disconnect it?”

Yep.

You can revoke access any time through your bank or inside Flatly.

No lock-in. No weird hostage situation.

You’re in control.

Always.

The bigger picture

Open banking is becoming the standard way apps talk to banks in NZ and globally.

It’s not about giving apps control of your money.

It’s about giving you control of your financial data — and choosing tools that make life easier.

Flat life should be about:

• Who’s cooking

• Who’s bringing beers

• Who left the oven on

  
  

Not forensic accounting.

If you’re ready to stop playing part-time accountant:

Get started ✨ and have a poke around.

No more chasing.No more drama.

Just a flat that runs itself.

— Team Flatly