Web Connect Protocols or Direct Connect Protocol trend?
Could it be that Quicken's Web Connect Protocols are starting to be implemented by Financial Institutions thus becoming incompatible with Moneydance as a whole? What are Financial Institution trends toward, Web Connect Protocols or Direct Connect Protocols?
This is only a question I have.
I fear that Financial Institutions are going to "lock out" 3rd party programs such as Moneydance by exclusively supporting Quicken, using QFX file format, and exclusively implement Quicken's Web Connect Protocols.
I have been using Moneydance since 2007. I believe in it. It's a
great program. I'll continue to use it until forced otherwise by my
Banks.
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1 Posted by Angie Rauscher on May 13, 2010 @ 05:43 PM
James,
I'm sorry for the delay in our response, we've been a bit swamped around here.
To be honest, I think the trend is toward Web Connect protocols. Luckily for us, Moneydance can import QFX, OFX, OFC, QFC, and QIF files, which most banks provide as downloads from their websites. When using web connect, Quicken is basically connecting to the bank's website. We're looking into either implementing a similar process or a third party system to have a similarly integrated approach, but these features are months away, at the least.
I do think you're right to be looking to the future and wondering about these issues. Intuit has a huge market share, and as such it has a lot of power. We'll just have to wait and see what they do with it.
Please let me know if I can be of further assistance, and thanks for using Moneydance!
Angie Rauscher
Moneydance Support
Angie Rauscher closed this discussion on May 13, 2010 @ 05:43 PM.