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> I think most of those things are EU initiatives no, only the mandated banking API (which is impossible to get access to if you're a startup or an individual)

yakshaving_jgt 3y ago
I thought we were talking about PSD2, which the European Parliament adopted in 2015. I recall many startups were launched specifically to capitalise on new opportunities provided by PSD2, so I find your comment confusing. What am I missing?
- blibble 3y ago
  the UK had contactless transactions, free instant payments and mobile banking years before PSD2 (the mostly useless open banking stuff is however due to PSD2)
  - yakshaving_jgt 3y ago
    That appears to be a red herring. In the article, Griffin is described as: > Their services allow Fintech businesses to integrate banking features quickly and securely. So this is about integration with other FinTech businesses, which I think squarely falls under open banking and PSD2. I'm not sure why you describe PSD2 as "mostly useless". Did you vote for Brexit by any chance?
    - blibble 3y ago
      you should prefix all of your posts with "I don't really know much about this topic, but here are my opinions regardless."
      - yakshaving_jgt 3y ago
        Wow. You really went through my recent comments to come up with this sick burn. That's sad. I'm not here to engage in flamewars, so let's just leave this here.
        blibble 3y ago
        > I'm not here to engage in flamewars -> ends previous comment in an ad-hominem
ace32229 3y ago
You're referring to PSD2 / OpenBanking? What do you mean it's impossible to get access to? If you're a start-up wanting to share your customers' financial data, you can make an API. If you're a start-up wanting to get access to your (potential) customers' financial data from other institutions, you can get access through one of the many providers (Tink, GoCardless etc), or become a provider yourself with enough work.
silversmith 3y ago
Counter-anecdote: my brother is building a startup (cashflow forecasting tool, check out https://tailwindapp.eu/ https://tailwindapp.eu/) on top of those banking APIs. Granted, he's spent many years in the industry, but as I understand, API access was by far not the hardest part of it.

yakshaving_jgt 3y ago

I thought we were talking about PSD2, which the European Parliament adopted in 2015. I recall many startups were launched specifically to capitalise on new opportunities provided by PSD2, so I find your comment confusing. What am I missing?

blibble 3y ago
the UK had contactless transactions, free instant payments and mobile banking years before PSD2 (the mostly useless open banking stuff is however due to PSD2)
- yakshaving_jgt 3y ago
  That appears to be a red herring. In the article, Griffin is described as: > Their services allow Fintech businesses to integrate banking features quickly and securely. So this is about integration with other FinTech businesses, which I think squarely falls under open banking and PSD2. I'm not sure why you describe PSD2 as "mostly useless". Did you vote for Brexit by any chance?
  - blibble 3y ago
    you should prefix all of your posts with "I don't really know much about this topic, but here are my opinions regardless."
    - yakshaving_jgt 3y ago
      Wow. You really went through my recent comments to come up with this sick burn. That's sad. I'm not here to engage in flamewars, so let's just leave this here.
      - blibble 3y ago
        > I'm not here to engage in flamewars -> ends previous comment in an ad-hominem

ace32229 3y ago

You're referring to PSD2 / OpenBanking? What do you mean it's impossible to get access to? If you're a start-up wanting to share your customers' financial data, you can make an API. If you're a start-up wanting to get access to your (potential) customers' financial data from other institutions, you can get access through one of the many providers (Tink, GoCardless etc), or become a provider yourself with enough work.

silversmith 3y ago

Counter-anecdote: my brother is building a startup (cashflow forecasting tool, check out https://tailwindapp.eu/ https://tailwindapp.eu/) on top of those banking APIs. Granted, he's spent many years in the industry, but as I understand, API access was by far not the hardest part of it.