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Security and Kontist

It has never been easier to manage your business finances as a freelancer - but easy shouldn’t mean unsecured. A number of safety measures guarantee that your money, your account and your business information are always protected.

How we protect your business bank account

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Multi-factor authentication for transactions

In addition to your username and password, you have to enter a unique TAN in order to confirm money transfers. This code is sent by SMS to the verified mobile phone number attached to your account.

Biometric login

You can choose to log in to your account with fingerprint and face recognition. These unique biological features are far more difficult to copy or steal than traditional passwords.

Task-switching privacy

When switching between apps on your mobile device, the preview image of the Kontist app is blurred, so that sensitive information such as your account balance doesn't appear in the multitasking view.

Live Support

When you're uncertain about something our competent and friendly customer support is there to help via chat and telephone.

Security on-the-go

You can opt to receive push notifications for every transaction in your bank account or on your Kontist card, so you’re always on top of what is happening with your money.

Card blocking on demand

You can lock your Mastercard, in the Kontist app with just one tap. Unlocking is just as easy, as is changing your card's PIN.

Virtual card security

Kontist meets Mastercard’s high security standard, which allows us to issue you a virtual card as part of our account. Since your virtual Mastercard only exists as a card number in the app, it cannot be stolen.

Jailbroken/ rooted devices are out

To protect your account and sensitive finance data, we do not allow rooted or jailbroken devices as they intentionally disable default security mechanisms of the Apple and Android operating systems.

How we protect your money

Rock solid and proven

Our trusted bank partners, solarisBank (your account-holding institution) and Wirecard Bank (card-issuing institution) are both established, internationally operating companies.

Safe and secure

Your money is kept in a regulated, ring-fenced German bank account. Your funds will never be moved, invested or lent to anyone else. It’s your money, and you can always access it.

Guaranteed deposits

Your bank account is held by solarisBank, which holds a full European banking license and is a member of the Deposit Protection Fund of the Association of German Banks, regulated by BaFin and the European Central Bank (EZB). Assets in your Kontist business bank account are covered by the Deposit Protection Fund under EU directives up to € 100,000.

Safe limits

Kontist protects you with limits for card payments. The risk of falling into debt is eliminated with our Debit Mastercard, which does not offer a credit line. You stay in full control of your expenses.

Protecting your privacy

Kontist is committed to protecting your personal information and ensuring that you are in control of your data.

There have been big changes in data in 2018, with PSD2 and GDPR, two major EU regulations relevant to banks, coming into force more or less at the same time. PSD2 mandates access for third parties to bank account information and GDPR creates a framework for protecting personal data based on individual consent. 

Although it sounds like the two are in conflict - one mandating access and the other mandating privacy - we see this as an opportunity. It’s an opportunity for you as a customer to have full access to your banking data, and the choice to share it with third parties for a richer, more personal banking experience- while also retaining control over what personal data gets shared. The two laws complement each other, and we believe that clear privacy regulations are what make trust in open banking possible.  

Full list of changes resulting from the GDPR

How we secure your data

Kontist is built on a reliable infrastructure, which allows us to share your information with your accounting service when you opt in. We work closely with these partners to develop integrations that ensure the privacy and security of integrated users.

Secure integrated solutions

Our integrations are custom built through direct collaboration with each accounting partner. All accounting integrations share relevant bank data directly with our partners, which eliminates the risk of incorrect or delayed data transmission.

Third party access under your control

Kontist only shares your data with the accounting systems you’ve authorized. Disconnecting your integration stops the transmission of new data and removes all accounting data from the Kontist app. For legal reasons, you need to delete synced banking transactions directly in your accounting system.

Authentication by user, not by third-party

Your bank data is only shared with an accounting system after you set up the integration by logging into your accounting system through the Kontist app. You can disconnect the integration at anytime.

Encrypted transmission

Your data will always be SSL-encrypted when transmitted between Kontist and our integrated partners. Your data is only accessible using a unique security-token that is specific to you and your integration.