Accessing bank data for analysis with open banking

Chino

Quite an achievement considering that your company has only existed for little more than 1.5 years:
https://beta.companieshouse.gov.uk/company/10578464

agrinnall

Then you are indeed posting as an unathorised company rep in breach of the forum rules and I for one will be reporting you for doing so.

I personally wouldn't use any app developed by a company that flagrantly flouts rules that are easy to comply with.

Anthorn

pmjenkins wrote: »

I tried Emma after reading about it on this thread and was disappointed to discover with two of my bank accounts (Co-op and Nationwide I think) I had to supply my complete logon credentials.


I hoped that Open Banking would mean that products such as Emma would not need full access capabilities. Am I wrong or was I just unlucky to try two banks that don't provide a foolproof read-only interface?

At this time there are mainly two systems of accessing financial details and sometimes both are in use simultaneously depending on the financial institution being accessed. There is the old system where we supply our full login details and then they scrape the data from the web page. This system is insecure because we trust they will not do anything else in our account that we give them access to. The new system is Open Banking where the data is accessed through an API provided by the banking institution and full login details are not needed.

As it's panning out though it may not simply be a matter of subscribing to the service which accesses your data et voila they get your data. Lloyds Bank for example provides a means of approving such actions as well as a means of viewing permissions through your profile in the internet banking interface. That implies that in order to get data, permission from both the bank and the bank's customer will be required.

Early days yet though.