Chase moves to Open Banking API

[Dawid Wrobel]

On Sun, Oct 9, 2022 at 12:01 AM Dawid Wrobel <me at dawidwrobel.com> wrote:

It sounds to me that when you request data in Quicken, it talks to Intuit.
>
>
> I can't tell. Technically speaking, Quicken as a standalone app could be
> talking directly to the banks using their APIs. In which case you would be
> the only person in possession of your financial data, outside of the bank.
> Whether they do it like this, or they pass that information through
> Intuit's intermediary servers, that can probably be inferred from Quicken's
> T&Cs. Chances are that Intuit being Intuit, same company behind Mint, which
> makes money off of user's data, would likely find it too hard to pass on
> that revenue avenue.
>

One more thing: I said in my first email in this thread that personal
finance applications, be it open or closed, don't use those APIs directly
and instead resort to 3rd parties. This is the case for Banktivity or
Mondeydance, which, as mentioned, have little resources. Mondeydance, for
example, saw banks making it increasingly difficult for them to apply, some
outright suggesting they ought to use the aggregators, after all — see
https://infinitekind.com/blog/moneydance-plus-privacy-subscriptions

However, Quicken may be an exception here, given their resources and the
fact that they curate to the North America market exclusively, so the
number of banks they need to deal with is way lower than the other software
mentioned which curates to their worldwide clientele.

-- 
Best Regards,
Dawid Wrobel
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