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Open banking coming to website

Started by: juan_p
On: 12/04/2018 | 09:52
Replies: 40
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by: pinkcalculator
on: 27/04/2018 | 09:36
Will Paypal can circle be included ? Also the one you can’t crack is cash payments you’ll have to enter them manually also gift cards will be included i that I guess ( quite a few of my surveys pay in amazon vouchers )
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Message 31 of 41
by: juan_p
former giff-staffer

on: 27/04/2018 | 10:03
The web version will have similar functionality to that of the app, although the app itself will allow more fine tuning in the categorisation aspect. I am unsure if Paypal will be included in the future, as for launch the linking will only be available with the major banks that have adhered to Open Banking, but Open Banking will expand to cover all PSD2 products so it could be a possibility in the future. However, we're currently not looking into the possibility of allowing manual input of purchases for launch, but we will look into adding them in a future update. The vouchers will be more complicated to add, as it is a bit of a niche feature and it's not exactly a flexible commodity, as it can only be spent on a very specific good or service.
Message 32 of 41
by: mangowalk
on: 27/04/2018 | 16:42
Hey juan_p thanks for the update
but what does PSD2 stand for?
Message 33 of 41
by: juan_p
former giff-staffer

on: 02/05/2018 | 16:15 edited: 02/05/2018 | 16:18

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. Smiley Tongue I am actually genuinely excited about this.)

Message 34 of 41
by: andrewredman
on: 03/05/2018 | 20:12

Hi @juan_p

 

Desktop: 

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.

 

Mobile:

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?

 

 

For both:

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

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Message 35 of 41
by: juan_p
former giff-staffer

on: 04/05/2018 | 10:52
Hi @andrewredman,

Don't worry, there will be an option to remove your connection to giffgaff. It will just be done through a revoke access screen I believe, as we can only read your data if you grant us access to your bank. The app will be fully compliant with the new General Data Protection Regulations.
Message 36 of 41
by: jesi23
on: 09/05/2018 | 15:34

@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 …

Click to reveal

adrius42 wrote:

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.

Someone answering
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!!

@juan_p

🤡

Please don't forget to come back after your problem has been resolved and select a best answer.
Also consider a kudos [+★] for any member who helped.
Message 37 of 41
by: tradertall
on: 09/05/2018 | 21:09

mangowalk wrote:

Hey juan_p thanks for the update
but what does PSD2 stand for?

did you get an answer on this ? i am wondering the same ! 

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Message 38 of 41
by: jaymailsays
on: 09/05/2018 | 23:36

@tradertall@mangowalk PSD2

 

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.

 

https://www.which.co.uk/money/banking/switching-your-bank/open-banking-sharing-your-financial-data-a...

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Message 39 of 41
by: mangowalk
on: 11/05/2018 | 15:45
thanks for that
Message 40 of 41
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