'Consent' in the Frollo app refers to how users link their accounts and share their data in the app using Open Banking regime (or CDR - Consumer Data Right).
What is the difference between Open Banking and screen-scraping?
There are two ways to link your accounts:
Open Banking uses the Consumer Data Right (CDR) and is regulated by the Australian government. This is the preferred method as it is secure and gives you more control over your data.
The alternative approach is screen-scraping. Performed by a third party (Yodlee), it allows data displayed in online banking screens to be made available within the app. Screen-scraping is required to link super and investment accounts.
Learn more about Open Banking here.