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Thank you. Do you think it would be possible for these services to operate in a manner that does not require sharing data with them? For example, if the 3rd pa

Thank you. Do you think it would be possible for these services to operate in a manner that does not require sharing data with them? For example, if the 3rd party app wants to show you your aggregate spending, they could run the operation on the bank's server and then the result would be end to end encrypted and shown on a customer device, without the 3rd party being able to read any details. Interesting that they went with full data sharing, that's a bit lazy and careless.

stevesimmons 5y ago
The third parties are tightly regulated. For instance, they need to be registered by the FCA as an AISP or a PISP for respectively showing account info and initiating payments. Personally, I am comfortable with that. Your suggestion makes it more complicated for each bank, which means you won't get uniform, consistent coverage. Better to leave more space for Open Banking specialist providers to innovate, while regulating them tighly.