Chase moves to Open Banking API

[Jack]

It's spreading.  Bank of America and Merrill Lynch are on the  
bandwagon.  BOA does give a message to call Customer Support and report  
a particular error number - but customer support has absolutely no  
clue.  I finally got someone at ML to tell me that customers should  
have been informed of the change by Intuit - which is kind of silly if  
you're not using Quicken.  Are there any US banks and investment  
brokers which still support OFX direct connect, and are not likely to  
follow the herd?

Jack

On 2022.10.07 17:07, Brendan Coupe via KMyMoney-devel wrote:
> Thanks Dawid,
> 
> I made the mistake of thinking the word Open meant Open.
> 
> At least they still provide an qfx file from the website. I suspect  
> that may not last long.
> 
> **
> *Brendan Coupe*
> *3 at Coupe7.com*
> 
> 
> On 10/7/22 2:20 AM, Dawid Wrobel wrote:
>> 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