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I'm guessing from this that Canada's banks are upset about getting their grass cut and are looking to regulate new entrants out of business. That's usually what

I'm guessing from this that Canada's banks are upset about getting their grass cut and are looking to regulate new entrants out of business. That's usually what a "made in Canada" solution means.

jpmoral 5y ago
How so? Giving your banking credentials to a third-party for it to login and screen-scrape is not secure. Mandating that banks provide an API instead for third-party apps to use won't necessarily 'regulate new entrants out of business'.
neom 5y ago
As a Canadian, I'm strongly in favour of a heavily regulated banking sector[1][2]. The report[3] mostly just describes that banks need to figure out some kinda API that allows me to authorize apps to access everything I could access from the front end. Seems reasonable? The report is good, and the orignal recommendation report from 2019 is also quite good.[4] [1] https://cba.ca/global-banking-regulations-and-banks-in-canada https://cba.ca/global-banking-regulations-and-banks-in-canad... (I realize this is effectively banking regulator propaganda, nevertheless, facts are there) [2] https://www.brookings.edu/research/know-thy-neighbor-what-canada-can-tell-us-about-financial-regulation/ https://www.brookings.edu/research/know-thy-neighbor-what-ca... [3] https://www.canada.ca/en/department-finance/programs/consultations/2021/final-report-advisory-committee-open-banking.html https://www.canada.ca/en/department-finance/programs/consult... [4 ]https://www.canada.ca/en/department-finance/programs/consultations/2019/open-banking/report.html https://www.canada.ca/en/department-finance/programs/consult...
deleted 5y ago
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r00fus 5y ago
Nope. Canadian gov is just saying users need a way to authorize limited use to my banking data so we can use YNAB and other stuff without resorting to scraping like Plaid or Mint does. Some online banks have setup specific auth codes for these services but most do not. Would be nice to aggregate my data without giving them keys to my kingdom.
SilverRed 5y ago
The small banks are almost always 10 years ahead of the big banks on apis and open systems.

I'm guessing from this that Canada's banks are upset about getting their grass cut and are looking to regulate new entrants out of business. That's usually what a "made in Canada" solution means.

jpmoral 5y ago

How so? Giving your banking credentials to a third-party for it to login and screen-scrape is not secure. Mandating that banks provide an API instead for third-party apps to use won't necessarily 'regulate new entrants out of business'.

neom 5y ago

As a Canadian, I'm strongly in favour of a heavily regulated banking sector[1][2]. The report[3] mostly just describes that banks need to figure out some kinda API that allows me to authorize apps to access everything I could access from the front end. Seems reasonable? The report is good, and the orignal recommendation report from 2019 is also quite good.[4] [1] https://cba.ca/global-banking-regulations-and-banks-in-canada https://cba.ca/global-banking-regulations-and-banks-in-canad... (I realize this is effectively banking regulator propaganda, nevertheless, facts are there) [2] https://www.brookings.edu/research/know-thy-neighbor-what-canada-can-tell-us-about-financial-regulation/ https://www.brookings.edu/research/know-thy-neighbor-what-ca... [3] https://www.canada.ca/en/department-finance/programs/consultations/2021/final-report-advisory-committee-open-banking.html https://www.canada.ca/en/department-finance/programs/consult... [4 ]https://www.canada.ca/en/department-finance/programs/consultations/2019/open-banking/report.html https://www.canada.ca/en/department-finance/programs/consult...

deleted 5y ago

[deleted]

r00fus 5y ago

Nope. Canadian gov is just saying users need a way to authorize limited use to my banking data so we can use YNAB and other stuff without resorting to scraping like Plaid or Mint does. Some online banks have setup specific auth codes for these services but most do not. Would be nice to aggregate my data without giving them keys to my kingdom.

SilverRed 5y ago

The small banks are almost always 10 years ahead of the big banks on apis and open systems.