Apologies, just had one of those moments where I assume all our members are mind readers.
PSD2 stands for Payment Services Directive 2, which is a European regulation that came into effect this year, which aims to harmonise and standardise how all services that provide payment services (such as banks, credit cards and e-wallets) work across all European Territories. The recent changes (from PSD1 to PSD2) are pretty much enabling the possibility of implementing open banking as they want to promote more innovative offerings and ways to offer payments. It is also the first time that it has been ruled that a customer owns his personal data instead of a bank, which allows them the possibility of sharing that data if they wish to with other service providers to gain extra services not provided by their original bank.
An example of this would be the gameplan app, where you can tell your bank to share some of your data with us and we offer the service of categorisation of your spending and provide you with notifications when we believe you could be saving money in some of your bills.
It's a pretty big deal as it opens up the gates for one of the largest banking revolutions in the past century. Very exciting stuff!
(And just realised how sarcastic that sounded. I am actually genuinely excited about this.)
Like the smooth intuitive flow of working through the process then linking bank account
The Highlights animation is great! Maybe a bit slower to make it that bit easier to follow?
It does seem a bit odd to have the information in just the centre of the screen but I do understand this is because it's based on the mobile version.
Again, intuitive flow
I like the Highlights animation, but with the mobile is there a way to make sure the whole bar sits on the screen when the animation is active?
I'm sure it will be included, but just asking... how would I disconnect my account and delete my information?
Great work! Looking forward to the final product!
Best wishes, Andrew
@adrius42 Why should not the questions also take into consideration the ages of said grandchildren and children?
Four children (34 yrs to 40 yrs) - fourteen grandchildren (under 1 yr old to 22 yrs old) - so potentially different saving targets on behalf of family members …
It could be naturally extended depending on choices the members themselves choose …
I ran through the App
I AM EXCITED TO GET MY HANDS ON THE BETA
My Bank (Metro) was not supported..... but actually...
I am a little concerned as most of my expenditures are fed through money back credit cards, why spend cash from my bank account if I can get paid to spend it via credit card!! Will you be able to gain access to the credit card transactions.
I fear not! But am remaining hopeful. It did not show up on the app I just reviewed.
Will you link to Amazon to keep track of our very large number of Amazon Purchases?
The overall feel of the app is aimed at the younger generation, basically because the functionality assumes it is all about saving rather than spending,
Per my SKIers post the Grey Pounders are fast gaining the majority, a Grey Pound Skin would have a completely different focus to the current skin apparently aimed at Single 25 year olds. Six questions in the initial config would allow you to present me the correct skin .....
Year of Birth, Marital Status, Work Status, Home Finance Status, Number of Kids, Number of GrandKids
For me I would answer
1953, Married, Retired, Mortgage Paid Off, 2, and 5
You should quickly deduce your current skin doesn't really match my needs.
2001, Single, Sixth Form College, Live at Home. 0, 0
Would need a different skin than the current version and a radically different skin than I would expect.
University Planning, Gap Year Planning to name but two.
I am looking forwards to FULLY engaging, to ensure the Game Plan deals with all the stages of ones financial development
And if we want to go really radical "Start em young!" Design a skin for
2012, Single, Primary School, Live at Home, 0 ,0
A pocket money planner!!
It is yet another EU Directive following on from their original inniative.
(Revised) 'Payment Service Directive' governs open Banking Apps and Websites Information. The intention is to remove Bank's Payment Monopoly allowing regulated third parties to offer services direct to the Bank's Customers.
The inniative is not without risks. Customers using unauthorised Apps will be unlikely to have recourse to compensation, screen scraping is currently allowed so the big question will be when you give and withdraw your consent will your wishes be respected?
Only time will tell.