Typically, Belvo will be the party storing the end users' credentials. This is done using SHA256 encryption process with 100,000 iterations which is as robust and secure as data encryption performed by any bank.
That being said, we do offer our clients two possibilities to comply with any data security policy they have implemented:
- The basic setup involves Belvo storing and encrypting end users passwords with our own safe keys. Data is always stored encrypted
- The second option is to provide an encryption key to encrypt the information that Belvo doesn’t store and only our client knows. This is an extra layer of security we are able to offer