You are not and were never prevented from accessing your own data. You keep repeating that while also mentioning you have options to access it.
You may not like the options you have to access that data because you have different needs than most other people. But insisting you're not allowed feels more than just exaggeration.
Open banking means it's not 100% proprietary and exclusive to each bank, it doesn't mean they have to open all doors and say "do what you want, I'm not even here". Regulation is there with a reason especially when dealing with such sensitive topics. You get access but you have to meet some conditions and the bar will be set according to the sensitivity: confidential personal data and actual money? It's going to be pretty high.
People are more than happy to blame regulators when they fail to put measures in place to protect people from major issues but will complain nonetheless if the regulation is there.
I am prevented from accessing my own data. A lot of bank's online banking is absolutely awful and doesn't go back more than 3 months worth of transactions.
Thankfully none of this bullshit actually applies to me (I use Monzo Bank which does have an API) but I feel the pain for everyone else.
> it doesn't mean they have to open all doors and say "do what you want, I'm not even here"
So hold on, does this means we now need regulation on how we can use cash? Because at the moment, stupid people can withdraw all their cash and throw it away, and nobody is there to prevent them from doing so.
How about we let people be responsible for their own data, and let them do whatever they want with it?
> online banking is absolutely awful and doesn't go back more than 3 months
It doesn't mean you can't request it directly with the bank. It is more cumbersome but they have to be able to provide that data as far back as the country's laws require them to keep it.
It's just that usually data older than 12-24 months is archived and I can guarantee you no API no matter how open it is will allow you to get the data directly from the archive. That's not what the system is meant to do. You'll still get 1-3 years but using a generic app instead of a proprietary one.
And you just moved the goalposts.
> So hold on, does this means we now need regulation on how we can use cash?
Moving your own cash has always been your business. But touch someone else's cash or account has always been regulated, yes. Some companies manage to exploit some gaps in that regulation and give you something but that's not because they should, it's because they can :).
Let me give you an example: you can treat your illness as you please. But if you want to treat other people's illnesses you need a medical degree. A pretty high bar. Unfair, right? :)
> How about we let people be responsible for their own data, and let them do whatever they want with it?
You're basically advocating for the removal of most regulation anywhere. I'm not sure you understand the implications. Which makes me think you'd be the first one to complain that nobody put rules in pace so you don't get bitten just as soon as "being responsible" bites you back.
My Monzo API allows me to go back to when I opened the account (back then it was just a prepaid card) in 2016. Somehow they are able to get the data directly from this "archive" which frankly shouldn't exist - Facebook is able to lookup stuff from 10 years ago instantly - don't tell me a bank can't do the same.
> But touch someone else's cash or account has always been regulated, yes
My argument here is about my own account. I'm even happy to send a letter stating that I am not an idiot and assume all responsibility just to get a personal access token.
> You're basically advocating for the removal of most regulation anywhere
I'm not advocating for no regulations everywhere - some stuff absolutely does need to be regulated, like massive tracking across the web. However when the user is in control and is knowingly handing over the key to their account, I'm happy for there to be no regulations. Same way nobody is preventing you from handing over your house keys to someone.
I don’t see account access being abused either. People could already be giving out their credentials, but somehow it’s not happening, so I don’t see the argument against personal access tokens.
They are not using APIs to begin with. I'm not sure what else is there to lock down.
Maybe we should just let idiots be idiots, and natural selection (or in this case, financial selection?) do its thing and the problem will go away eventually?
> They are not using APIs to begin with. I'm not sure what else is there to lock down.
It's a bit like getting your app from the app store, or system repository, rather than downloading a random exe from the internet. Apple's walled garden comes in for a lot of criticism, but it does stop a lot of crap getting through. Getting your PSD2 enabled, regulated app from a curated list rather than any random piece of crapware is the same sort of idea.
> Maybe we should just let idiots be idiots...
Eh, if that was going to work it would have done by now. They'll only become a burden on the state.
You may not like the options you have to access that data because you have different needs than most other people. But insisting you're not allowed feels more than just exaggeration.
Open banking means it's not 100% proprietary and exclusive to each bank, it doesn't mean they have to open all doors and say "do what you want, I'm not even here". Regulation is there with a reason especially when dealing with such sensitive topics. You get access but you have to meet some conditions and the bar will be set according to the sensitivity: confidential personal data and actual money? It's going to be pretty high.
People are more than happy to blame regulators when they fail to put measures in place to protect people from major issues but will complain nonetheless if the regulation is there.