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duhawkz |
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duhawkz World Chat Champion
Joined: 03 Dec 2006 Karma :
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Posted: 18:14 - 13 Jan 2018 Post subject: Open banking - what do you think? |
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https://www.bbc.co.uk/news/business-42655716
Banks are launching open banking, where you can give registered companies access to your banking information so they can use it 'help' you get better deals on things, based on your spending habbits, and how you manage your account etc.
I assume it works in a similar way to apps that access your facebook profile
What do you thing, are you ready to all that level of access to your bank account. ____________________ "The guy is a worthless cunt and I honestly believe I would be a slightly happier person if he died." - Chris-Red |
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Wafer_Thin_Ham |
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Wafer_Thin_Ham Super Spammer
Joined: 18 Nov 2005 Karma :
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Posted: 18:29 - 13 Jan 2018 Post subject: |
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It's a tricky one. They're doing it to make more money no doubt about that. However if they're also giving us a better deal than they would have before then everyone wins? ____________________ My Flickr |
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Posted: 18:41 - 13 Jan 2018 Post subject: |
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Moar credit 4 moar stuff we don't need. ____________________ Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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Wafer_Thin_Ham |
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Wafer_Thin_Ham Super Spammer
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Ste |
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Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
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Wafer_Thin_Ham |
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Wafer_Thin_Ham Super Spammer
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Tracey Suntan-King |
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Tracey Suntan-King World Chat Champion
Joined: 10 Nov 2012 Karma :
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duhawkz |
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duhawkz World Chat Champion
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Jewlio Rides Again LLB |
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Jewlio Rides Again LLB World Chat Champion
Joined: 06 Oct 2015 Karma :
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Posted: 11:11 - 14 Jan 2018 Post subject: |
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Wouldn't have this problem with Bitcoin. ____________________ Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
HAHAHA HAHAHA Blew Chilly MyCrowSystems |
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pepperami |
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pepperami Super Spammer
Joined: 17 Jan 2010 Karma :
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stinkwheel |
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stinkwheel Bovine Proctologist
Joined: 12 Jul 2004 Karma :
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Posted: 13:51 - 14 Jan 2018 Post subject: |
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I have thus far strenuously and successfully resisted having any part of my formal banking online. The one exception being paypal.
It turns out I can even do BACS payments in person in my local branch, of which there are many since I switched to the Cumberland Building Society. ____________________ “Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles. |
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Joncrete Cungle |
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Joncrete Cungle World Chat Champion
Joined: 31 Jan 2012 Karma :
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Posted: 19:19 - 14 Jan 2018 Post subject: |
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Can't people manage to do that terribly old fashioned thing called budgeting anymore? Why do people need an app to tell them they are going overdrawn, are they fucking stupid? |
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Pjay |
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Pjay World Chat Champion
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Ste |
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Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
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Posted: 19:30 - 14 Jan 2018 Post subject: |
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Or cash. |
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Robby |
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Robby Dirty Old Man
Joined: 16 May 2002 Karma :
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duhawkz |
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duhawkz World Chat Champion
Joined: 03 Dec 2006 Karma :
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Posted: 23:21 - 14 Jan 2018 Post subject: |
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Robby wrote: | There are a few minor examples where I could imagine this being vaguely useful.
Bike insurance is due, magic banking app runs my quote for me, give me a 1-click buy it now.
Utilities are due a switch, magic app does the USwitch thing for me.
These things already exist, but are a bit clunky. Making them less clunky would be nice. The problem is that this requires access to lots of information. I know the information isn't accurate. I don't trust the companies that want to access it now - and when GDPR comes into play, I'll have to give consent every 5 seconds as they come up with a new way to (mis)use my information.
However. If I had never compared insurance quotes, switched utilities, or moved credit cards - this could save me a lot of money. So there are potential winners - and they are just the same people where the comparison sites don't yet have their data, so it's worth putting some effort into targeting them. |
Neither of those require access to your financial transactions, in fact they're not even relevant unless, as I said above insurance companies plan on using it to try and do some kind of profiling based on the data they can access.
For energy switching all they need is the number gas and electric units used over the last 12 months and the price paid, then a payment method. ____________________ "The guy is a worthless cunt and I honestly believe I would be a slightly happier person if he died." - Chris-Red |
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Lord Percy |
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Lord Percy World Chat Champion
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skatefreak |
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skatefreak World Chat Champion
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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iooi |
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iooi Super Spammer
Joined: 14 Jan 2007 Karma :
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Posted: 10:12 - 17 Jan 2018 Post subject: |
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Oh, I assume it's a given that DWP will insist on access as a condition of claiming benefits, HMRC for taxation purposes, and your local Council just because they're a bunch of Stalinist cvnts. ____________________ Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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Courier265 |
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Courier265 World Chat Champion
Joined: 01 Oct 2017 Karma :
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Ste |
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Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
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Posted: 18:41 - 17 Jan 2018 Post subject: |
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It'll be fun when they try to make Hetzer use Open Banking. |
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Old Thread Alert!
The last post was made 6 years, 148 days ago. Instead of replying here, would creating a new thread be more useful? |
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