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"In the US, where there is no such requirement - the only way to access the bank account is to emulate a browser." Not entirely correct. In the US, JPMorganCha
by wayzel 7y ago
"In the US, where there is no such requirement - the only way to access the bank account is to emulate a browser."
Not entirely correct. In the US, JPMorganChase, Intuit, and others have adopted the OFX standard (consortium-based, which provides #2) as a more secure, controlled API alternative to browser emulation.
- lapusta 7y agoYou are right, although Plaid has quite a critical view on OFX https://plaid.com/documents/Plaid-Financial-Data-Access-Methods.pdf https://plaid.com/documents/Plaid-Financial-Data-Access-Meth...
- huac 7y agolike any other entrenched monopolist, Plaid shouldn't want OFX to make it easier for new entrants to enter. Building something to interact with OFX is easier than building a scraper.