Terms & Conditions

1. About these terms

These Terms and Conditions (the Terms) govern your use of the Rekonfi platform and services (the Services) provided by Rekonfi Ltd (Rekonfi, we, us, our), a company registered in England and Wales (company number 17239438) with its registered office at 85 Tetley Road, Birmingham, England, B11 3BX. By creating an account or using the Services, you agree to these Terms. If you use the Services on behalf of a business, you confirm that you have authority to bind that business, and “you” means that business.

2. Definitions

• Account: your account for the Services.
• AIS (Account Information Services): the retrieval of your bank account and transaction data.
• PIS (Payment Initiation Services): the initiation of a payment from your bank account on your instruction.
• Connected Account: a bank account or third-party account, for example an accounting platform, that you connect to the Services.
• Customer Data: data, including personal data, that you or your users provide to, or generate through, the Services.
• Finexer: Finexer Ltd, the authorised provider through which we offer AIS and PIS.

3. The Services

The Services provide AI-enabled automation of finance tasks, which may include bank reconciliation, supplier statement reconciliation, management reporting, VAT-return review, and the initiation of supplier payments you instruct. We do not provide accounting, tax, legal or investment advice, and you remain responsible for reviewing and approving the outputs of the Services, including any payment, before relying on them. We do not hold or control your money.

4. Open Banking and our status as an agent of Finexer

We provide AIS and PIS as a registered agent of Finexer, which is authorised and regulated by the Financial Conduct Authority to provide these services. Your use of AIS and PIS is also subject to Finexer's end-user terms, which are presented to you when you connect an account or initiate a payment. Before we access your bank data or initiate a payment, you give explicit consent, and your bank authenticates you directly through strong customer authentication. You can withdraw your consent at any time. Any payment is made directly from your bank account to the payee, and we never take possession or control of your funds.

5. Eligibility and your account

The Services are intended for business customers. You must provide accurate registration information and keep it up to date, and you are responsible for activity under your Account and for keeping your credentials secure. We carry out customer due diligence at onboarding and on an ongoing basis, and we may decline to provide, or may suspend, the Services where we are required to, or where we reasonably consider it necessary to manage risk or to comply with the law.

6. Connected accounts and payment instructions

You authorise us, through Finexer, to connect to the accounts you choose and to retrieve data or initiate payments as you instruct. You are responsible for the accuracy of the payment instructions you give, including the payee's details. You should verify any change to a supplier's bank details through a trusted channel before authorising a payment, as a protection against authorised push payment fraud.

7. Your responsibilities and acceptable use

You must use the Services lawfully and only for legitimate business purposes, must not misuse the Services or attempt to gain unauthorised access to them, and must comply with applicable law. You remain responsible for reviewing reconciliations, reports and payments before relying on or authorising them.

8. Fees

You agree to pay the fees for the Services as set out in your subscription or on our pricing page, together with any applicable taxes.

9. Customer data, privacy and data protection

We process personal data in accordance with our Privacy Policy. Where we process personal data on your behalf in providing the Services, we act as a processor and you act as the controller, and our Data Processing Agreement applies. You confirm that you have a lawful basis to provide that data to us. You grant us a non-exclusive licence to use Customer Data to the extent necessary to provide and improve the Services.

10. Third-party services

The Services rely on third parties, including banks, Finexer and the accounting platforms you connect (for example Xero, QuickBooks Online and Sage). We are not responsible for the acts, omissions, availability or content of those third parties, and your use of them may be subject to their own terms.

11. Intellectual property

We and our licensors own all intellectual property rights in the Services. You own your Customer Data. We grant you a limited, non-exclusive, non-transferable right to use the Services during the term for your internal business purposes.

12. Confidentiality

Each party must keep the other's confidential information confidential and use it only as needed in connection with the Services, except where disclosure is required by law or by a regulator.

13. Availability and changes to the Services

We provide the Services with reasonable skill and care. We may update, modify or improve the Services from time to time. We do not warrant that the Services will be uninterrupted or error-free.

14. Warranties and disclaimers

Except as expressly stated in these Terms, the Services are provided on an “as is” and “as available” basis, and we exclude all warranties to the fullest extent permitted by law. You are responsible for your own financial decisions and for maintaining your own records. Nothing in these Terms excludes or limits any liability that cannot lawfully be excluded or limited.

15. Limitation of liability

Subject to the paragraph above, we are not liable for any indirect or consequential loss, or for loss of profit, revenue, data, goodwill or anticipated savings. Our total liability to you arising out of or in connection with the Services in any twelve-month period is limited to the greater of the fees you paid in the preceding twelve months and a minimum amount as notified to you. Nothing in these Terms limits our liability for death or personal injury caused by our negligence, for fraud or fraudulent misrepresentation, or for any other liability that cannot be limited under applicable law.

16. Term, suspension and termination

These Terms apply for as long as you use the Services. Either party may terminate on written notice. We may suspend or terminate your access immediately where you are in material breach, where required by law or a regulator, or where we reasonably consider it necessary to manage risk. On termination your right to use the Services ends, and we handle your data in line with our Data Retention and Deletion Policy.

17. Changes to these Terms

We may change these Terms from time to time. We will give you reasonable notice of any material change, and your continued use of the Services after the change takes effect constitutes acceptance.

18. Complaints

If you are unhappy with the Services, please contact us so that we can try to put things right, in line with our Complaints Handling Policy. If your complaint relates to the regulated Open Banking service and you are an eligible complainant, you may be able to refer it to the Financial Ombudsman Service.

19. Force majeure

We are not liable for any failure or delay in performing our obligations that is caused by events beyond our reasonable control.

20. General

These Terms, together with the documents they refer to, form the entire agreement between you and us. You may not assign these Terms without our consent; we may assign them to a member of our group or to a successor of our business. No failure to enforce a term is a waiver of it. If any term is found to be unenforceable, the remaining terms continue in effect. Nothing in these Terms creates a partnership, joint venture or agency relationship between you and us. Notices must be given in writing to the contact details below. A person who is not a party to these Terms has no right to enforce them, except that Finexer may rely on the provisions relating to the Open Banking service.

21. Governing law and jurisdiction

These Terms are governed by the law of England and Wales, and the courts of England and Wales have exclusive jurisdiction, save that we may bring proceedings to protect our intellectual property or to recover sums due in any competent court.

22. How to contact us

You can contact us via the Contact page or by post at Rekonfi Ltd, 85 Tetley Road, Birmingham, England, B11 3BX.