Teller is a system which relies on screen scraping and taking your passwords (AFAICT, though the comment below says they use the mobile APIs, it's much the same regardless).
In the UK this is no longer necessary and FCA accredited organisations (Or qualified organisations from across the EU) can gain access to Bank APIS which allow much easier, programmatic access with much more granular access and far fewer security implications.
IIRC teller have also been subject to blocking and possible lawsuits from various banks for their scraping activities and are not well liked in the industry.
(--edit-- I am rate limited here so cannot respond below, just to say that if OB APIs are not performant, that'll likely be down to the participating banks. I would expect them to improve over time.
I'm not trying to say teller is illegal - I doubt very much that it would have survived this long if it were illegal - simply that the security model is not so great and the banks don't like it and continue to try to block it. 'Stevie' would probably do well to get himself accredited before the banks find a way to keep him out permanently.)
>In the UK this is no longer necessary and FCA accredited organisations (Or qualified organisations from across the EU) can gain access to Bank APIs which allow much easier, programmatic access with much more granular access and far fewer security implications.
I don't have a horse in this race, but in my experience the Open Banking APIs are:
In the UK this is no longer necessary and FCA accredited organisations (Or qualified organisations from across the EU) can gain access to Bank APIS which allow much easier, programmatic access with much more granular access and far fewer security implications.
IIRC teller have also been subject to blocking and possible lawsuits from various banks for their scraping activities and are not well liked in the industry.
(--edit-- I am rate limited here so cannot respond below, just to say that if OB APIs are not performant, that'll likely be down to the participating banks. I would expect them to improve over time.
I'm not trying to say teller is illegal - I doubt very much that it would have survived this long if it were illegal - simply that the security model is not so great and the banks don't like it and continue to try to block it. 'Stevie' would probably do well to get himself accredited before the banks find a way to keep him out permanently.)