An app may connect to your financial accounts in multiple ways which determine where you provide your login credentials. Regardless of which type of connection is made, we do not share your financial information with the app or service you are trying to connect to without your permission, and we never store or share your credentials with the app or on our system either
Automatic verification (Using account credentials)
The most common way for an App to connect your financial account is by authenticating using the the financial account credentials through Brick. App using Brick has various use-cases. For Personal Finance Management app, they will want their users to connect to help them track their financial data. Others, like Peer-to-peer lending companies, will want their users to connect to assess their financial institutions as part of their loan application process Regardless of the different use-cases and different entry points to Brick, these App (and Brick) requires to authenticate using your respective financial institutions credentials
Manual verifications (Uploading Bank Statement or Passbook)
Brick also provides an OCR technology where we parsed data from images or PDF into digital in form of JSON format or CSV. With this, Apps that connect with Brick will only ask for you E-Statement or Passbook photos. They will then forward the data through Brick and we will provide the digitalized data to them. Similar to automatic verifications, this flow may have different purposes depending on the App use-case