Security News > 2020 > January > Financial tech firms disagree on ban of customer data screen-scraping
For years, financial technology companies have used screen-scraping to retrieve customers' financial data with their consent.
As ZDNet reports, one of the calls for a ban came from Lisa Schutz, founding director of The Regtech Association and CEO of Verifier, who said that her company could use screen-scraping, but it's chosen not to.
Some in the fintech industry want to ban screen-scraping outright, but not all.
Astrid Raetze, general counsel for one of those small companies - Raiz Invest - said that you've got the banks on one hand, demanding that screen-scraping be banned, while on the other hand, you've got fintechs that aren't affiliated with banks that have no other alternative but to develop APIs under open banking to access data.
The committee asked her, how can she confidently claim that screen-scraping puts customers and their data at "No risk?".