I found an explanation of Quicken's Express Web Connect at 
https://community.quicken.com/discussion/7851859/faq-how-quicken-connects-with-your-financial-institution-tips-tricks-and-best-practices.

The short answer is it works the same as plaid and friends: The transaction 
data is retrieved nightly and stored on Intuit's servers and Quicken phones 
home to retrieve them.

Regards,
John Ralls

That's interesting! They even mention screen scraping (I'm not sure whether that's really what's happening, I would imagine that would be extremely unreliable). I'm sure most data aggregators (such as plaid) no longer use screen scraping, they must have agreements with Banks to download directly, but I'm not too sure about this.
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