Bayly expects screen scraping to make ‘orderly exit’ from open banking

Using screen scraping is akin to giving a stranger a key to your house, says one fintech leader. (Image: Getty)

Wed, 14 Aug 2024

Screen scraping, the controversial technology that allows third parties unsecured access to banking information, is being put on notice as open banking regulation looms.Screen scraping involves asking a user for their banking credentials, using them to log into their account online, and reading account information or taking actions, such as making transactions, on the user’s behalf.The technology is an early form of open banking used by several financial services companies, such as payment providers Poli and Windcave and financial data co...

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