Open Banking woes

Seems Emma are having issues with HSBC and their approach to Open Banking -

I think someone at Emma is getting confused, HSBC are doing exactly what they are required to do and make current accounts subject to open banking. Yes many providers provide open banking apis for different accounts and cards, but the regulated 9 banks are only required to provide an api for current accounts.

They are also required to make that secure, so HSBC are again doing what is required.

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I think the furthest open banking might require is an access for easy access accounts? I’m more surprised Emma - considering it’s pretty much the basis for their business - don’t seem aware of PSD2 rules and lobbied for changes before the switch.

September 14th is the next deadline with regards to PSD2 and that is about all banks having SCA implemented, although I’m fairly certain permission for a delay or a grace period was given.

Most of the big banks still don’t have API’s for all accounts. However a lot allow third parties access to your account without using an API so by that basis they have access to all your accounts, but that’s not the legal requirement, its just a side effect of granting access to your account data.

I didn’t realise that deadline was just for SCA. I guess by before I meant well before, not 3 weeks as SCA must effectively kill screen scraping :sweat_smile:

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Psd2, and SCA in particular, is really becoming more and more annoying…

:joy::joy::joy::joy::joy: did anyone spot the cheeky twitter link on that post?

Some months ago I was not impressed with the attitude of Emma towards open banking. It was said that it offered nothing of benefit to Emma users and I got the distinct impression that they hadn’t really looked in to it. So yes, it does sound like someone at Emma has misunderstood what open banking allows access to and it seems to me that HSBC are well within their rights to do what they are doing.

I noticed that in the Lloyds Bank/Halifax app that for HSBC they clearly list only current accounts are available via open banking. So Lloyds seem to be on the ball with this.

Learning from Curve…


im reliably informed the deadline for compliance with SCA regs is being pushed back in the UK and Europe.
14th of September no longer the target date due to a lack of readiness in the industry as a whole.

The failure is really with describing it as “Open Banking” when really it’s just “Open Current Accounts”

Yeah, I remember that too. I’ve become disillusioned with Emma recently as a whole. I felt like the recent Open Banking beta testing really wasn’t run very well (it was more of an alpha than a beta, lots of users’ connections got screwed up, and it didn’t have the level of rigour or end-user support I would expect of a properly-run IT project), the implementation isn’t as seamless as Yolt (which I previously left for Emma but have returned to), and they sometimes get unnecessarily belligerent when banks/institutions don’t do something they want (sounding a little like spoilt kids).


Tbh, it sounds genuinely awful having to deal with certain institutions. So I have a bit of sympathy.

Emma does seem to run on a wing and a prayer sometimes with development. I think the margins must be very tight.

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Yeah. In their defence, the way they run does have pros as well as cons. Unlike Yolt they are quite agile in implementing features quickly and listening to users - advantage of a startup mentality vs. being owned by a big bank. However while I do have sympathy that the big banks must be hard to deal with, it feels like as a startup they also have some learning to do on how to manage that complexity in a mature way.

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I see they have been doing a bit of backtracking with respect to their first HSBC email which they now call ‘aggressive’