How an Open Standard API Could Revolutionize Banking

An anonymous reader writes: Open bank data will give us the freedom to access all banks in real time and from a single view, automatically calculating the best deals in complete transparency, which will be a significant step forward for social good and give people more control over their finances. Meanwhile, financial tech incubators, accelerators, and startups are creating a more experienced talent pool of developers ready to act upon these newly available assets. From the article: "The United Kingdom government has commissioned a study of the feasibility of UK banks giving customers the ability to share their transactional data with third parties via an open standard API. First mentioned alongside the autumn statement back in December, the chancellor has now outlined plans for a mandatory open banking API standard during the recent budget in March."

Comments

Re:Sounds good to me

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I feel your pain... I left my previous bank because they "improved" the UI with a brain dead design, that required pixel hunting and clicking "next page" until all the records had been displayed for the selected month before being allowed to save as CSV. Btw, the bank I'm talking about is the CGD of Portugal (Caixa Geral de Depositos). Fuck you CGD, please slowly die in a fire.

I made a small script with xdotool to dump all my data before I switched to another bank. It was ugly, but did the job.