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Have you read about https://www.openbanking.org.uk/ https://www.openbanking.org.uk/ The nine largest banks and building societies are required to participate.
by ChrisSD 7y ago
Have you read about https://www.openbanking.org.uk/ https://www.openbanking.org.uk/
The nine largest banks and building societies are required to participate. Many others do so voluntarily.
- weberc2 7y agoWhat percentage of the world's banks are covered? Or perhaps what percentage of the world's population banks in those covered institutions? Or perhaps what percentage of the total banked wealth (terminology?) is held in covered institutions?
- ChrisSD 7y agoOn an article titled "Plaid Launches in the UK" I would assume the most relevant territory is "the UK". But if instead the question is "what's the alternative" the answer is "government intervention" as shown by the UK.
- weberc2 7y agoIt depends on the audience. Many businesses don't want to restrict themselves exclusively to the subset of UK banks that follow that initiative. And government intervention is hardly a pragmatic solution (how many companies can afford to lobby every government in which they'd like to do business?).
- novok 7y agoIf I was plaid, I would use things like open banking if it's available, because it cost less to implement and maintain than the current html scraping norm we have now. I'm guessing plaid uses oauth & open banking when available, and falls back to scraping when it's not.