smoothy

About Open Banking

Smoothy uses Akahu to securely connect to your bank accounts. Akahu is New Zealand's leading Open Banking platform. They've been around since 2020 (growing out of a project that started back in 2013), and they're the go-to solution for connecting banks to apps in Aotearoa.

What is Akahu?

Think of Akahu as the trusted middleman between your bank and Smoothy — they handle all the technical stuff so we can focus on helping you predict your expenses.

They're used by over 100 government, corporate, and fintech organisations across New Zealand — including major players like Westpac (who actually part-owns them), Xero, MYOB, Simplicity and Sharesies. If you've ever connected your bank to a financial app in NZ, chances are you've already used Akahu.

Is it safe?

Yes. Here's why:

  • Officially accredited: In December 2025, Akahu became one of the first organisations to receive official accreditation under New Zealand's Consumer Data Right legislation. This means they're a regulated participant in NZ's official Open Banking system, held to strict security and privacy standards.
  • Direct bank authentication: For the big four banks (ANZ, ASB, BNZ, Westpac), you authenticate directly with your bank — not through a third party. Your bank creates a secure access token, so your password is never stored.
  • Bank-grade security: They use 256-bit encryption (the same level banks use) and are ISO 27001 certified for information security.
  • Westpac-backed: Westpac New Zealand invested in Akahu, which is a pretty solid vote of confidence.
  • You're in control: You can revoke Smoothy's access to your accounts at any time from within Smoothy settings or through my.akahu.nz.

What data does Smoothy use?

We only receive:

  • Transaction history from the last 12 months for the accounts you've selected to connect
  • Account balances
  • Account names and numbers

We don't get:

  • Your bank login credentials
  • The ability to move money (we don't currently request payment capabilities, though we may add this in future — if we do, we'll update our terms and conditions and let you know)
  • Access to anything you haven't explicitly shared

Still have questions?

You can learn more about Akahu's security at akahu.nz/safety, or check your connected apps anytime at my.akahu.nz.

Or drop us a line at info@smoothyhq.com.