As noted in Qwil's FAQ:
We require certain information about you for regulatory and tax compliance. Without this information we cannot help you get paid! We know it can be a little scary to put such sensitive information into any app. That's why we use bank level security to keep your information safe.
If you have additional questions related to Qwil security, please consult their FAQ or reach out to Qwil Support at firstname.lastname@example.org