The connection is time-limited and under your control. It gives us a read-only view for the assessment; it is not a permanent, open-ended tap on your account, and you can withdraw it at any time through your bank.
Snapshot for the decision
For a one-off Business Loan, the connection's job is to let us read the recent history that underpins the affordability decision. It does what it needs to for the application and then its purpose is served. It never has payment powers — see what Open Banking is and whether it is safe.
Access consents under Open Banking are revocable. You can withdraw permission through your own bank's app or online banking whenever you choose, independently of us.
Ongoing products
Some reusable facilities benefit from a refreshed view over time so the picture stays current — but that too is consented and revocable. How the connection behaves during an application is in how the connection works. Your data rights throughout are in is my data safe when i apply and how do i get a copy of my data.
Apply — the connection is yours to grant and to revoke.
We lend only to UK limited companies and LLPs, the loan is to the company with no director personal guarantee, and this is business finance outside the consumer-credit regime — as an exempt lender under Article 60B of the Regulated Activities Order we sit outside FCA consumer-credit regulation, so the Financial Ombudsman Service and FSCS do not apply.
See also: How does the Open Banking connection actually work when I apply?, What Open Banking is and whether it is safe?, Is my data safe when i apply.