Banks want to reduce screen scraping

Rocket J Squirrel

The service is intended to produce standard risk assessments of data aggregators like Plaid, Finicity, Envestnet Yodlee and Intuit, which banks can then reference before deciding to forge a data-sharing agreement with one of the firms.

The Clearing House wants to move the banking industry away from screen scraping and toward “an ecosystem where there are agreements in place for API-based data sharing, which we believe is more safe and secure as well as ultimately more transparent to consumers,” said Ben Isaacson, senior vice president at The Clearing House.

https://www.americanbanker.com/news/bofa-chase-wells-fargo-pilot-service-to-rein-in-screen-scraping

Chris_QPW

What do I think of this?

I refer you to this which has to do with an article about the different "standards" that are being used for IOT (with various vendors only implement parts of the standard or doing it in a way that it only works with their devices):


And from what I have seen the financial institutions are even worse than the tech world.  As in it is like herding cats.  Of course the last big push for this was the OFX standard.  Which was done by Intuit, Microsoft, CheckFree, and "the financial institutions".  Got to about 4,500 out of over 35,000 financial institutions.  A few years ago the EU mandated that their financial institutions support one or both of two standards, one of which is OFX.  That is what it will take to bring the US/Canadian financial institutions to a common standard, but will never happen because our countries believe in "freedom".