UK OpenBanking Support - I know it has been looked at before....

praveen's Avatar

praveen

15 Apr, 2019 03:03 PM

Hello

I am looking to have a personal finance management software which addresses security and privacy concerns by keeping all data private on users computer( which moneydance does) also take away the pain of uploading the statements or sharing the account login details in UK. The open banking initiative looks promising and I understand it was evaluated previously as in thread below
https://infinitekind.tenderapp.com/discussions/online-banking/11562/r?go=aHR0cDovL2hlbHAuaW5maW5pdGVraW5kLmNvbS9kaXNjdXNzaW9ucy9vbmxpbmUtYmFua2luZy8xMTM5Ni1kb3dubG9hZC1mcm9tLWNhcGl0YWwtb25lLTM2MC1icm9rZW4vcGFnZS8zI2NvbW1lbnRfNDY1ODI2MzI%3D

I just want to attract developers attention that there are services which will do the authentication like https://truelayer.com/data-api/ and if the concern is having data routed through your servers you can potentially implement the API in the desktop software in such a way that connection and data is returned to the desktop application directly? just a thought...

trying to see if this is something you think could be viable?

  1. 1 Posted by derekkent23 on 15 Apr, 2019 04:17 PM

    derekkent23's Avatar

    A UK user.
    I don't think this is a free service?
    How much would we end up paying when we can download for free from our online account?

  2. 2 Posted by dwg on 15 Apr, 2019 09:00 PM

    dwg's Avatar

    I'm a fellow user.

    They are somewhat lacking on detail. As I see it there are two potential problems. The first is that they may hold your banking username/password on their servers this I regard as a security breech. Secondly they may route the transaction data via their servers again I see this as a security problem. From what Sean has said Data aggregators can work with Open Banking as it is today. This organisation may simply be acting as an aggregator.

  3. System closed this discussion on 15 Jul, 2019 09:10 PM.

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