Open Banking and account aggregation?

kulath

This is a complete mess.


No one is really clear about whether they are using screen scraping or the Open Banking API.


Some providers (such as Yolt) are on the Open Banking website as FCA regulated and registered providers (implying that they use the APIs) but clearly, if they are using the APIs at all, they are also using screen scraping as well, because they aggregate accounts that don't support screen scraping yet. It is not clear whether the bank is responsible if something goes wrong with screen scraping. Moneyhub (which is also a registered AISP (Account Information Service Provider)) says that their registration means that the bank is responsible (but if that is the case, what is the point of the Open Banking APIs?).


The MoneysavingExpert, the Which and the OpenBanking websites talk grandly about the principle of the thing, but don't make clear what is actually offered, and what registration they have and how widely they support accounts and which support desktops.



I have many accounts, and would love to have them all aggregated on one screen - I had an application years ago that did this by screen scraping, but now it is total confusion everywhere!

Nicosy

Moneyhub is brilliant. I don't know if they have a desktop version but the phone one is great. Very clear reporting, transactions appear really quickly and it automatically categorises purchases into sections (not always perfectly but gets it right most of the time). It is secure, easy to use and gives you all the info you need. Reasonably priced as well.

colsten

Nicosy wrote: »

Moneyhub is brilliant. I don't know if they have a desktop version but the phone one is great. Very clear reporting, transactions appear really quickly and it automatically categorises purchases into sections (not always perfectly but gets it right most of the time). It is secure, easy to use and gives you all the info you need. Reasonably priced as well.

It might be ok if you have one or two current accounts, and a savings account at a UK High Street Bank. Anything more complex and it's useless. That's true for most of the apps.

Mr_K

FD are closing their account aggregation service as of 26th August They are blaming all the increased log in security that's now being forced on accounts.

Doc_N

Mr_K wrote: »

FD are closing their account aggregation service as of 26th August They are blaming all the increased log in security that's now being forced on accounts.

That's a serious loss to anyone with a fair number of accounts - and no obvious replacement.

It's pretty much the only reason I have to bank with First Direct, so I'll not be stopping around.

Nick_C

You never never needed to be a FD customer to use IB+

I think IB+ is very secure, but is no longer lawful cause of PSD2. It uses screen scraper technology, but the limited open banking apps use APIs

IB+ hasn't been reliable for me for a long time, and it rarely refreshes all my accounts. I will still miss it though

Nick_C

Well Tandem has turned out to be a huge disappointment. I guess they were using screen scraping technology after all.

You can no longer access Tesco, TSB, or Amex. And links to the banks that do work don't show credit cards or savings accounts.

(On top of this, almost every time I log on to Yorkshire BS I seem to need a OTP. I seem to be prompted to accept cookies every time I visit a new website. And cash back credit cards have all but disappeared. Damn the EU.)

eskbanker

Nick_C wrote: »

On top of this, almost every time I log on to Yorkshire BS I seem to need a OTP. I seem to be prompted to accept cookies every time I visit a new website. And cash back credit cards have all but disappeared. Damn the EU.

Perhaps this comment was intended to be flippant, but while the measures referred to have unquestionably been introduced on an EU-wide basis, is there any evidence that the UK was reluctantly conscripted into them and would have done anything differently? Or that we'll repeal the relevant regulations once out?

robatwork

To return to the OP - are there now in September 2019 any decent websites (or at a pinch apps) out there that will show all accounts using open banking and not screen scraping.... or was this a utopia promised and undelivered by banks whose disparate cobol systems can't even implement a "confirmation of payee" system by this July, in the several years they had to get it in place?