5 ms·
This isn't a quantitive finance problem but more of a consumer finance problem: I really think it is about time there is an API for consumers to access their da
by wj 11y ago
This isn't a quantitive finance problem but more of a consumer finance problem: I really think it is about time there is an API for consumers to access their data at financial institutions. I could see that opening up all kinds of innovation. (Selfishly it would allow the startup I'm working on to multiply the value we offer to users.)
Obviously a standard would be nice but in practice I'm sure each institution would come up with their own or embrace and extend the standard. e.g. FIX with trading.
- ape4 11y agoReady only access would be key too.
- smt88 11y agoI looked into this problem extensively a few years ago. Banks are actually moving backwards. The ones that previously exposed an API are killing them off and moving to a proprietary API that talks only to their app. Every retail bank is basically creating their own version of Mint, where you add your accounts from other institutions to their app.