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This is very exciting. In the EU the fintech revolution is also banging the gates, as in 2018 all banks must support a standard protocol, if I recall correctly.

bkkssnn 10y ago
It's called Psd2, strugling to find a good article about it but TLDR; Banks has to have an open api for payments and to check account statuses.
- ksahin 10y ago
  " Banks has to have an open api" are you sure about that ? I thought there was some criteria to be able to use these APIs
  - ozim 10y ago
    Yes but account owner or user will be able to give permission for access to his banking data. So you will be able to use your fav accounting app to fetch data directly from account without doing csv export or hacking something around.
    - ccozan 10y ago
      In Germany we have DATEV, which is a company doing exacly that.
      - ksahin 10y ago
        In France we have "Bankin" and other apps, but the problem is, since banks don't offer APIs at all, all these apps (called "Aggregators" in fintech language) are doing web scraping to pull the user datas.
  - icebraining 10y ago
    I think the difference is that you can use the APIs of any bank as long as you fulfill some standard criteria; each bank can't set their own, or pick and choose who can "partner" with them to use the APIs. At least, that's my understanding.
  - deleted 10y ago
    [deleted]
- malanj 10y ago
  It's generally a "read only" view, i.e. you can get account info etc. Root is a "write" API. So you can actually create and modify transactions.
  - deleted 10y ago
    [deleted]
  - bkkssnn 10y ago
    In the legislation banks has to provide a way to inititate transactions. So its not only to view data.
- kiyundai 10y ago
  Didn't know that ! It may explain why french bank (like société générale) are starting to offer a way to check other french bank account from their mobile app/website
sjtgraham 10y ago
My company Teller, https://teller.io/ https://teller.io/ has transactional banking APIs with the UK banks in production today. It'll be coming out of beta soon and I'll do a Show HN at the time but feel free to shoot me any questions at sg@teller.io (don't want hijack Root's thread, awesome work folks!)

bkkssnn 10y ago

It's called Psd2, strugling to find a good article about it but TLDR; Banks has to have an open api for payments and to check account statuses.

ksahin 10y ago
" Banks has to have an open api" are you sure about that ? I thought there was some criteria to be able to use these APIs
- ozim 10y ago
  Yes but account owner or user will be able to give permission for access to his banking data. So you will be able to use your fav accounting app to fetch data directly from account without doing csv export or hacking something around.
  - ccozan 10y ago
    In Germany we have DATEV, which is a company doing exacly that.
    - ksahin 10y ago
      In France we have "Bankin" and other apps, but the problem is, since banks don't offer APIs at all, all these apps (called "Aggregators" in fintech language) are doing web scraping to pull the user datas.
- icebraining 10y ago
  I think the difference is that you can use the APIs of any bank as long as you fulfill some standard criteria; each bank can't set their own, or pick and choose who can "partner" with them to use the APIs. At least, that's my understanding.
- deleted 10y ago
  [deleted]
malanj 10y ago
It's generally a "read only" view, i.e. you can get account info etc. Root is a "write" API. So you can actually create and modify transactions.
- deleted 10y ago
  [deleted]
- bkkssnn 10y ago
  In the legislation banks has to provide a way to inititate transactions. So its not only to view data.
kiyundai 10y ago
Didn't know that ! It may explain why french bank (like société générale) are starting to offer a way to check other french bank account from their mobile app/website

sjtgraham 10y ago

My company Teller, https://teller.io/ https://teller.io/ has transactional banking APIs with the UK banks in production today. It'll be coming out of beta soon and I'll do a Show HN at the time but feel free to shoot me any questions at sg@teller.io (don't want hijack Root's thread, awesome work folks!)