Nat West Bank

Tracy Francis's Avatar

Tracy Francis

08 Oct, 2018 10:09 PM

Hi, can you tell me if there are any plans to connect to Nat West bank (UK) in the very near future?

  1. 1 Posted by dwg on 09 Oct, 2018 04:24 AM

    dwg's Avatar

    I'm a fellow user.

    This is my take on your question.

    The Infinite Kind typically do not discuss future versions of moneydance, we generally start to see some details when the software goes into Beta testing, that has not occurred yet for the next major release.

    Moneydance currently supports Direct Connect for the automated download of transactions, this is a standard system freely available to all software vendors and financial Institutions, for Moneydance to be able to support Nat West in the near future the bank would have to implement this solution.

    I think Nat West doing this would be unlikely, the UK is moving towards a legislated system called Open Banking, other countries are also implementing such a system or looking to do so. Its been stated that this system is to provide API access to the data as a part of the solution so I would be expecting UK organisations to be looking to implement this new system rather than Direct Connect.

    In other posts TIK have stated that they are investigating the possibility of incorporate Open Banking support into Moneydance, it is early days yet for this system however.

  2. 2 Posted by Tracy Francis on 09 Oct, 2018 08:38 AM

    Tracy Francis's Avatar

    Many thanks for your reply. Not even Barclays is on the list for the UK so I’m sure you are right and they will just move towards the legislated system, which means it will be up to TIK to incorporate or not.
    Thank you very much for replying to my post.
    Best Wishes.

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