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That should have been an obvious problem. How would want developer seriously think that would be an acceptable user experience?

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Well, it might have been obvious but it was certainly not a useless exercise. Some users were really interested and wanted to experiment with it.

Transaction data is read and never stored, just used to processing matches.

The flow was relatively simple, link an account during signup.

The regulation was hard and expensive.

How do you casually link your bank account to some app? Is it common for banks to have safe readonly APIs or so in your country?

Yes, take a look at the OBIE [0]. You are required to be registered/regulated as an appropriate 'Third Party Processor' (TPP) class, in this case an AISP.

Then you can use an API aggregator service such as SaltEdge, TrueLayer, Teller [1], etc. (I'm not associated with any of these). Or you can try to roll your own.

[0] - https://www.openbanking.org.uk/about-us/ [1] - https://www.truelayer.com https://www.saltedge.com https://www.teller.io

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