There are lots of plans and industry discussions about extending out API access to other products - both within the existing areas that Open Banking covers today, but also a wider set of products and areas. These are summarised in the Government’s ‘Smart Data’ roadmap. See here:
However, we don’t have any firm dates for when (or if) specific banks will be extending Open Banking access out to wider savings products. We will certainly be looking to support them when they do.
Thanks for the pointer. That doc though is long on ambition and short on concrete - the only solid thing I could see in there was a pilot of VRP extension.
Hello, I’m new here and would like to know the roadmap or the dates when the following banks and financial institutions will be available as online accounts in Snoop.
Actually @sanjeevgopal … you mention you have a ‘current account’ with Trading212 and if that was the case it would fall under Open Banking regulations.
However, I don’t think that provider offers Current Accounts so they also don’t have an Open Banking API that we could connect with. Maybe you have some sort of broker or savings account?
Thank you for sharing this with us! Please be aware we are talking to our Open Banking partner about this. As soon as we have an update on this we will share it with our customers.
@paul_k About the pensions, current accounts and Open Banking …
A friend uses Lumio and commented that they’d got one of their pensions in it, which sounded useful. In this case it was PensionBee.
How does Lumio manage to get this?
And could Snoop do it? … I’ve also got a PensionBee account, and it’d be useful as I’m looking to start drawdown payments from it, so would be great to track it
Many firms like PensionBee believe in the principles of Open Banking and provide their own APIs (technical interfaces) to allow 3rd party services to connect with some of their services.
However, unlike the UK Open Banking standards that cover Current Accounts, Credit Cards and some Savings Products, there is no such common standard or approach (yet) for other financial products.
That’s exactly the direction the regulators, government and the industry is heading - see here:
For now, Snoop connects with only UK standard APIs and don’t have custom/bespoke APIs to other services.