These Open Banking Terms and Conditions (“Terms”), together with our Privacy Policy and our Terms and Conditions, set out how Menna Ltd (“Menna”, “we”, “us”, or “our”) provides Open Banking services to you (“you”, “your”, or “user”).
By using Menna’s Open Banking services, you agree to these Terms. Please read them carefully before proceeding. If you do not accept these Terms, do not use the Open Banking functionality available on the Menna platform.
1. Who We Are
Menna Ltd is incorporated in England and Wales with registered number 15078639 whose registered office is at Menna Ltd, Spark, Maindy Road, Cardiff, Wales, CF24 4HQ.
Menna Ltd is an appointed representative of Creative Finance Corp LTD which is authorised and regulated by the Financial Conduct Authority under reference FRN 702435.
Menna Ltd is an agent of Score Genius Technology Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) as an Account Information Services Provider (AISP) under FRN 830950.
Menna accesses bank transaction data through our Open Banking provider, Friendly Score UK Ltd, which is regulated by the FCA under FRN 792025.
You can check our registration on the Financial Services Register by visiting www.fca.org.uk/register or by contacting the FCA on 0800 111 6768 (freephone) or 0300 500 8082 or by emailing [email protected].
To contact us, please email [email protected]
2. What Are Open Banking Services?
Open Banking is a secure way for you to give us access to your financial information held by banks or other payment account providers that are regulated in the UK.
Our Open Banking Services are designed to give you a clearer understanding of your business finances and help you to improve your cashflow as well as identify credit and financial products that suit your needs. Our Services combine data from your bank accounts with your credit report to help assess cash flow, spending patterns and financial health and provide detailed financial insights.
Our Open Banking Services may include:
- Accessing account information such as balances, transactions and account details.
- Using this information to help assess your business financial health and affordability.
- Generating financial scores and insights.
- Supporting credit product recommendations.
We will only access your information with your explicit consent, and only for the purposes stated here and in our Privacy Policy.
3. Consent and Accessing Your Data
Before accessing your data, you will be asked to provide explicit consent. This is done through a secure interface with your bank or account provider.
- Your consent is valid for 90 days, after which we will ask you to re-consent if you wish to continue using Open Banking services.
- You can revoke consent at any time via the Menna platform or by contacting your account provider directly.
- We will not access your accounts without your permission.
4. Your Responsibilities
You agree that:
- You are only providing access to accounts that are in your name.
- You will keep your login details for your bank accounts and Menna secure and confidential.
- You will notify us immediately at [email protected] if you suspect any unauthorised use of your account.
5. Data Use and Protection
We process your personal data in compliance with the UK General Data Protection Regulation (GDPR) and the Data Protection Act 2018. Please refer to our Privacy Policy for details on how we collect, use, and protect your information.
Types of data collected:
- Account balance.
- Transaction history.
- Account details (name, number, sort code).
Your data may be used to:
- Generate business financial insights.
- Provide affordability and financial health scores.
- Recommend financial products.
We do not sell your personal data. We may use anonymised and aggregated data for analytics or research.
6. Limitations and Liability
We do our best to provide accurate and up-to-date information, but we are not responsible for:
- Any inaccuracies in data provided by your account provider.
- Any decisions made by you based on our insights or scores.
- Unavailability of services due to third-party failures (e.g., your bank or our Open Banking provider).
Except where the law prohibits us from doing so, our total liability to you under these Terms is limited to £100.
7. Duration of Services and Termination
We will provide Open Banking services as long as:
- You have a Menna account.
- You maintain active consent for data access.
- We continue to offer these services.
You can stop using Open Banking services at any time by:
- Revoking consent within the Menna platform.
- Revoking access through your bank or account provider.
We may also discontinue Open Banking services at our sole discretion with reasonable notice.
8. Service Availability
We strive to keep our website and Open Banking services accessible at all times. However, we cannot guarantee uninterrupted access due to maintenance, technical issues or other factors beyond our control. We aim to schedule during periods of low usage, though this may not always be possible.
We may suspend the Open Banking services or your access if we detect or anticipate a security issue, or if your use is, or could be, harmful to us, our members, Partners or others.
9. Complaints Procedure
If you have a complaint about our services, please contact us at [email protected]. We will handle your complaint in line with FCA requirements and aim to resolve it promptly. If you are not satisfied, you may escalate your complaint to the Financial Ombudsman Service: https://www.financial-ombudsman.org.uk
10. Changes to These Terms
We may change these Terms from time to time, for example to comply with legal requirements or make technical adjustments, so please check them each time you wish to use our Open Banking services. We will post any changes on menna.ai and will try to give you reasonable notice of any major changes. Continued use of Open Banking services means you accept the updated Terms.
11. Governing Law
These Terms are governed by the laws of England and Wales. Any disputes will be subject to the exclusive jurisdiction of the courts of England and Wales.
12. Contact Us
For queries regarding these Terms, please contact:
- Email: [email protected]
- Postal Address: Menna Ltd, Spark, Maindy Road, Cardiff, CF24 4HQ.
