Apparently some of the big US banks are starting to roll out authentication APIs (e.g OAUTH) so it may be worth another look. I suppose it doesn't matter as much for credit cards, but for my checking/savings accounts, a compromise would actually jeopardize my money. No matter how many security claims they made, I just couldn't justify giving them my bank passwords in plain text. I stopped using Mint after a brief stint because of data privacy and security. Mint is so much easier to use - it automatically pulls and categorizes transactions from pretty much any institution imaginable without no user effort needed. (OFX was not as straightforward to obtain or use as one would hope). Without a way to easily import data directly from my banks/credit cards, using GnuCash (or Firefly III, a great alternative that's also worth checking out) just takes way more time than its worth. It lets you use Python to alter GnuCash files. The heart of this app is the Piecash Python library. There's no way as of yet to download the GnuCash file directly from the web app, but I would like to add that in the future. You can add your own into an S3 bucket, and this will write to it using Python's boto3 library. gnucash file that is saved in the sqlite file format. If anyone has any interest in contributing ideas or code to this, I would love to hear about it. I haven't built the Docker container in a while, so the one on Docker Hub may or may not work. I should say right now, though: it's more like beta software at this point. It's very simple, but it does everything I need, to the point that I no longer have to open the desktop program. The container it runs in is destroyed every 30 minutes, but that's enough time to play with it. If you want to try it out, there's a demo of it on. entering transactions, looking at their history, and checking balances. It's a Python/Flask web app for doing the very basics of GnuCash, i.e. So, I made a small companion app called gnucash-helper. So there was no easy way to use desktop AND mobile in a shared way. Last I checked, their mobile app was basically abandoned (around 2018), and it had no way to use a SQL DB, even though the desktop can use SQLite3, MySQL, and Postgres. The data will be secure, shared only with consent, and there will be traceability.I'm an avid user of GnuCash. The way Helleboid sees the future, consumers will be able to access all their data - bank data, payment data - in whatever application they choose. “They want all their accounts in there their expectations increase all the time.” “Customers don’t want to type anything,” he said. Helleboid pointed out that as consumers use new apps, they want to be able to do more things with them. I think some folks have seen what's happened in Europe and think it's a government thing.” “There are some first movers, but others have not seen a lot of first-mover advantage. “Because it is kind of a new concept, some folks are not sure what to make of it and are waiting to see what other people are doing,” said Cardinal. The concept of open banking and data sharing has existed for some time and is legally required in Europe, but a relatively small number of U.S. Most will upgrade when they’re doing a technology refresh anyway. For many banks, OFX still works, so they may not rush to change. OFX and FDX are harmonizing their standards and closing the gaps on a few differences, to make FDX the standard. It’s not just used for sharing banking data, but also for sharing information from tax documents such as 1099s, according to Olivier Helleboid, vice president of product and engineering in the Financial Data Services unit at Intuit. OFX has also evolved in the last 20 years. “Unfortunately, we estimate there are probably 45 to 50 million credential pairs out there.”Ĭardinal is referring to the common practice of screen scraping, where consumers give their online banking usernames and passwords to a third party so they can log in as the user and scrape their bank account data. “That's with no mandate, that's just with market forces and people working together,” Cardinal said. Two million consumers use it Cardinal expects 6 million will by year-end. (Cardinal recently came from Bank of America, where he worked for 23 years and co-chaired the FS-ISAC’s working group on data sharing.)įDX supports restful application programming interfaces (APIs) and biometric authentication. “If you were to build OFX today, you’d build FDX,” said Don Cardinal, managing director of FDX, which is a subsidiary of the Financial Services Information Sharing and Analysis Center.
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