Co-founder of Plaid[1] here. We build an API for developers to connect to their users bank accounts. All the 'startup-y Mints' are our clients.
[1] - https://plaid.com/
[1] - https://plaid.com/
Do you only screen scrape or have backend/backoffice/negotiated integrations with various banks? How do you deal with enduser bank credential storage (both technically and legally when dealing with bank ToS)?
Also, in your experience, have any standards like OFX actually achieved critical mass for adoption amongst banks, and has that made your team's lives any easier?
For the top 14 banks we work closely with the banks to build connections - however for the smaller and mid-size banks we work and connect with a variety of vendors that serve those banks.
I personally sit on the OFX consortium (and a couple other financial standards committees) and I'm not overly bullish. I'll just leave this link here.... https://xkcd.com/927/
I think you missed a question (unless it was intentional :), but how do you deal with enduser bank credential storage (both technically and legally when dealing with bank ToS)?
For example, on the technical side, do you store the credentials themselves or just session tokens/cookies?
I'm working for a Canadian fintech startup that would truly benefit from a service like yours.
I will definitely keep a close eye on your service. Here's hoping it comes soon to non-US bank accounts.