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Screen Scraping

Open Banking Technology

Screen Scraping

Technology

Definition

Screen scraping is a technique where software extracts data from the display output of another application. In financial services, it was historically used to access account data by having users hand over their online banking username and password so the service could log in as them and copy data. Screen scraping is not open banking: it is insecure (you lose control of your credentials), can void your bank's guarantee against unauthorized transactions, and breaks when banks change their sites. Open Banking APIs provide a secure, standardized, regulated alternative where you authorize the bank to share data via an API without ever giving your password to a third party.

Related Terms

Frequently Asked Questions

What is Screen Scraping?

Screen scraping is a technique where software extracts data from the display output of another application. In financial services, it was historically used to access account data by having users hand over their online banking username and password so the service could log in as them and copy data. Screen scraping is not open banking: it is insecure (you lose control of your credentials), can void your bank's guarantee against unauthorized transactions, and breaks when banks change their sites. Open Banking APIs provide a secure, standardized, regulated alternative where you authorize the bank to share data via an API without ever giving your password to a third party.

What does Screen Scraping stand for in Open Banking?

Screen Scraping is a key term in the Open Banking ecosystem. Screen scraping is a technique where software extracts data from the display output of another application. In financial services, it was historically used to access account data by having users hand over their online banking username and password so the service could log in as them and copy data. Screen scraping is not open banking: it is insecure (you lose control of your credentials), can void your bank's guarantee against unauthorized transactions, and breaks when banks change their sites. Open Banking APIs provide a secure, standardized, regulated alternative where you authorize the bank to share data via an API without ever giving your password to a third party.

How does Screen Scraping relate to Open Banking?

Screen Scraping is a key concept in the Open Banking ecosystem, falling under the Technology category. Screen scraping is a technique where software extracts data from the display output of another application. In financial services, it was historically used to access account data by having users hand over their online banking username and password so the service could log in as them and copy data. Screen scraping is not open banking: it is insecure (you lose control of your credentials), can void your bank's guarantee against unauthorized transactions, and breaks when banks change their sites. Open Banking APIs provide a secure, standardized, regulated alternative where you authorize the bank to share data via an API without ever giving your password to a third party.

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