Safety & Security

As bank customers, consumers have the final say as to how their data is used, what is shared  and who it may be sent to. Waave allows consumers to finally take back total control of their money.

Government Backed Security

We hold the highest level of accreditation under Consumer Data Right (CDR) legislation.As an Accredited Data Recipient, we are required to have high levels of security standards for your data using the secure Open Banking connection to your bank.

Data Encryption

We encrypt all data using the latest security standards such as TLS v1.2.Our systems are regularly tested and audited by security experts and qualified auditors. You can rest assured that your data security is our priority at Waave.

Bank Grade Security

We use bank-grade security to ensure your data is safe and you are in control.We adhere to Australian Standard on Assurance Engagements (ASAE) 3150, having the same level of security as the leading banks.

Your data, your way

At Waave, we believe that you own your own data. We will never sell your data and information.You can request your data be deleted off our systems at any point in time. Your data will be automatically deleted after 12 months, but we will send you reminders to link your bank accounts to keep using our awesome services.

Your banking login details are never stored

We will never ask for your internet banking passwords.Instead, Open Banking uses API’s (which, put simply, is the way systems communicate) to transfer data meaning it is far more secure and regulated than traditional data-sharing methods.

Security layer

There are strict rules around what can be done with consumer data. There are no internet banking passwords when granting consent to Open Banking.Instead, consumers will undergo a form of multi-factor authentication such as an OTP (one-time password) and Biometric (FaceID and TouchID), so there’s no need to worry about data breaches or unwanted marketing.