[rmesters]

This is a problem that can only be solved by regulated open banking (i.e. regulator enforcing banks/FIs to build APIs following one standard). Until US has regulated open banking, users will be sharing bank credentials in plain text and providers will be screen-scraping bank accounts.

There's lots of good examples of regulated open banking. Europe has PDS2. Australia has Consumer Data Right Act. Several other countries that are now implementing open banking legislation: Brazil, Japan, Saudi Arabia, Mexico, Singapore, Hong Kong, India.

It would be great to see US on that list some day.

[RileyJames]

Australia’s open banking initiative is well captured by the big 4 banks. Good luck getting any access to it.

Having an act, and being able to use it any useful manner are two very different things.