Yes, Open Baking is Secure
Open Banking is supported by the CMA (Competitions and Markets Authority) and any provider of Open Banking is required to be authorised by the FCA (Financial Conduct Authority).
Canopy use an intermediary, Plaid, to securely access your banking data and keep it secure. Role-based access controls are enforced at each layer of infrastructure. Multi-factor authentication is required for access to Plaid infrastructure. All application and user access logs are stored centrally and monitored.