Hello,
TL;DR: Given infinite development bandwidth, can one even dream of using
PSD2 for Online Banking with GnuCash?
I wanted to improve visibility into my spendings (what do you know, it's
2023 😀) and wanted to try using GnuCash again ... after a 10-year break.
However, my life situation changed, and I no longer have the time (nor
patience) to manually enter all transactions into GnuCash. Therefore,
hearing about all the hype around PSD2, I thought maybe GnuCash already
supports pulling all transactions from my bank (Nordea, Sweden, EU).
Why don't I just hack a PSD2 backend for AqBanking?
So ... I read up on PSD2 and here is what I understood:
- It introduces a heck of a lot of acronyms.
- It essentially mandates an open API for access to my transaction
information.
- TPP = "Third Party Provider", i.e., the entity who -- upon my consent
-- gets access to my transaction info.
- XS2A = "Access to Account" is an API to essentially retrieve
transaction information.
- TPP needs to onboard at two levels:
- First, the TPP needs to get some kind of certificate ("QSealC eIDAS
Public certificate" -- in case anyone Googles this message) from the
National Financial Authority, e.g., BaFin in Germany,
Finansinspektionen in
Sweden, etc.
- Second, the TPP needs to get onboarded with each bank.
I learned these by reading the following documents:
-
https://medium.com/@mpn123/building-an-open-banking-access-to-account-xs2a-api-as-a-bank-or-aspsp-479f26b91a43
-
https://www.openbankingeurope.eu/media/1176/preta-obe-mg-001-002-psd2-xs2a-tpp-user-management-guide.pdf
- https://developer.nordeaopenbanking.com/pitching-form/compliance
Does this essentially mean that PSD2 and XS2A is only usable for accounting
software delivered as SaaS and useless for accounting software delivered as
desktop applications like GnuCash?
Any insight is appreciated.
Best,
--
Cristian Klein
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