It's not just that the APIs are hard to deal with. The problem is that I'd imagine that many of these financial institutions will only allow API access and implementation details under an NDA or some equally FOSS-incompatible legal constraint. You'd think that "it's just an API, how close-minded can they get?" The answer is very. I've dealt with these types of integrations before as part of a large corporation, and I've seen API documentation from a partner prefixed by 2 full pages of legalese regarding its use - and that doesn't include the separate document about data retention and caching restrictions. And it's even more of a pipe dream to think that any party could convince these institutions to simplify or standardize their APIs - the legal fees alone for them to make sure that everything's compatible with EACH company's practices/bylaws would probably strike fear into even the most generous donor. I love the FOSS mindset, but as an engineer I have to recognize that it's not the perfect approach for every domain.
The issue with banks like that is the complexity is lying outside their ability to enforce it, so they have to rely on government/law to enforce that complexity instead of software. Such banks move slowly. Are there any banks with open APIs? Yes, not many though, there probably aren't enough to start a network effect.
Just because some APIS are "hard" and exist outside of an electronic network, doesn't mean that they cannot be automated in software to some extent.
Makes me wonder if Obama is trying to automate the government and military so Laws and enforcement can be automated so inter-banking can be automated. Didn't follow our NDA and are using our API to lander cash? Automated drone missile at your IP interface.
Comments
It's not just that the APIs are hard to deal with. The problem is that I'd imagine that many of these financial institutions will only allow API access and implementation details under an NDA or some equally FOSS-incompatible legal constraint. You'd think that "it's just an API, how close-minded can they get?" The answer is very. I've dealt with these types of integrations before as part of a large corporation, and I've seen API documentation from a partner prefixed by 2 full pages of legalese regarding its use - and that doesn't include the separate document about data retention and caching restrictions. And it's even more of a pipe dream to think that any party could convince these institutions to simplify or standardize their APIs - the legal fees alone for them to make sure that everything's compatible with EACH company's practices/bylaws would probably strike fear into even the most generous donor. I love the FOSS mindset, but as an engineer I have to recognize that it's not the perfect approach for every domain.
The issue with banks like that is the complexity is lying outside their ability to enforce it, so they have to rely on government/law to enforce that complexity instead of software. Such banks move slowly. Are there any banks with open APIs? Yes, not many though, there probably aren't enough to start a network effect.
Just because some APIS are "hard" and exist outside of an electronic network, doesn't mean that they cannot be automated in software to some extent.
Makes me wonder if Obama is trying to automate the government and military so Laws and enforcement can be automated so inter-banking can be automated. Didn't follow our NDA and are using our API to lander cash? Automated drone missile at your IP interface.