Comment on Ask HN: Why would people trust their banking credentials to a service like Mint?Comments−dguido11yBecause they use OFX for read-only transactions and an HSM to store the passwords:http://money.stackexchange.com/questions/15392/are-there-any...−nailer11yThe bank should provide oauth, with 'see your transactions' as a permission you can revoke later.Unfortunately, banks are technically backward and don't realise they're dumb vaults yet, much in the same way phone carriers are dumb pipes.
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Because they use OFX for read-only transactions and an HSM to store the passwords:
http://money.stackexchange.com/questions/15392/are-there-any...
The bank should provide oauth, with 'see your transactions' as a permission you can revoke later.
Unfortunately, banks are technically backward and don't realise they're dumb vaults yet, much in the same way phone carriers are dumb pipes.