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Maybe. One potential problem is that the banks aren't likely going to want to spend time dealing with verifying security and onboarding for smaller operators wh
by tomatocracy 4y ago
Maybe. One potential problem is that the banks aren't likely going to want to spend time dealing with verifying security and onboarding for smaller operators who want to use the APIs directly for this, which will mean aggregators have to get involved (who in turn will need to take a cut to cover costs and make a reasonable profit).
- mavili 4y agoYeah there will be that but if I'm not mistaken it isn't the banks who need to authorise individual API providers. There is a directory of allowed services that get whitelisted by the Open Banking "consortium" - I don't think a bank can then deny any requests coming from that list. However, you're still correct because to get whitelisted by Open Banking is in itself a long process and has requirements that makes it unfeasible for many small service providers.