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because there are close to 20000 of them in the US, and while chase has the resources to do oauth properly, not every junky credit union can afford that
by twelve40 4y ago
because there are close to 20000 of them in the US, and while chase has the resources to do oauth properly, not every junky credit union can afford that
- jrochkind1 4y agoFew/no small credit unions (or banks) have their own bespoke online portal they developed just for them. They use a vendor. I bet a few vendors would cover a pretty large % of those 20K banks.
- twelve40 4y agowhat's in it for them anyway?
- jrochkind1 4y agoI don't know, what's in it for the big banks either? Probably the same thing as what's in it for smaller banks and their vendors? Apparently nothing, or not enough? Unless customers are going to use the feature to choose their bank? Or it saves the bank money from avoiding fraud? Maybe one or the other will be so eventually. When it is, the vendors/platforms that "junky credit unions" use will add it, same thing as when big banks will add it. A vendor that small banks and credit unions use for their online platform probably has the same order of magnitude of aggregate consumer customers as a big bank has, I don't see why it wouldn't be about as do-able for one of those vendors as a big bank.