Screen scrapers enrich services
MACQUARIE Bank has become one of the first local financial services providers to provide screen scraping facilities with the rollout of a Web site to customers.
Launched by Macquarie's subsidiary, Financial Enrichment, the site - enrichment.com.au - allows customers to screen scrape, or combine their online banking and broking services and reporting under one set of access details at one Internet site.
Westpac, Suncorp Metway, BankWest, Macquarie Bank, American Express, Bendigo Bank and AMP Bank will be able to access the service.
Macquarie Bank head of eDivision Rahn Wood says more banks will be added to the list in the months ahead, as well as other product lines, including managed funds, superannuation and share broking.
Wood says customers of National Australia Bank and St George Bank were not able to participate in the account aggregation service at present because of technical difficulties.
Bank transactions will still need to be conducted by users through each bank's own Web site, as the aggregation site would not take responsibility for this part of the service.
The technology behind the aggregation service will use high level encryption technology with all access details held separately from the site in a 'pin vault'.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
