Chase moves to Open Banking API

[Dawid Wrobel]

On Fri, Oct 7, 2022 at 4:27 AM Brendan Coupe via KMyMoney-devel <
kmymoney-devel at kde.org> wrote:

> My Chase credit card no longer works with Direct Connect (ofx in the US).
>
> I found the following link that explained why it stopped working this week:
>
Well, that sucks, but it's been happening for other banks since a while, so
we kind of had it coming...

>
> https://www.banktivity.com/support/articles/banktivity-7/ofx-direct-connect-will-no-longer-be-supported-by-chase-as-of-october-6th-2022/
>
> Is KMM going to support Open Banking?
>
No. None of the apps, be it open or closed sourced, actually *support* Open
Banking. Any such app uses 3rd party interfaces, which are authorized by
the banks themselves to use their Open Banking APIs.
Per
https://www.banktivity.com/support/articles/banktivity-for-mac/what-is-open-banking/
:
"Yodlee in the US and Saltedge in the UK/EU, will download transactions
from your bank using an API (application programming interface)."

Applications themselves cannot be authorized — explicit business entities
can, only, which are issued signing certificates. Hence Yodlee and
Saltedge. The problem with those is that information about your
transactions is passed through those 3rd parties, so forget about your
privacy.

This was previously discussed, with hypothetical solutions, see:
https://invent.kde.org/office/kmymoney/-/issues/21

-- 
Best Regards,
Dawid Wrobel
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