Faster more reliable data feeds with open banking are here
Today we’re excited to take a bold new step towards significantly better financial data feeds as we prepare to launch support for open banking.
From the start, reliable financial account feeds have been the foundation of everything we do at Tiller Money. We chose our financial data provider carefully based on detailed comparison testing. Our engineering team spends more time maximizing the quality and reliability of our feeds than any other feature.This isn’t changing anytime soon – and everyone on Tiller Money’s team agrees that we can’t spend too much time on quality data feeds.
Better feeds than ever
Open banking is built on three ideas that come together to make your Tiller Money data feeds better than ever.
You own your data. The core premise of open banking is that your financial data is yours. It doesn’t belong to the banks. It’s not hidden from you. It’s yours and it should be available to you in accessible forms.
There was a time when some banks held on to data, fearing that they would lose relevance if your banking data was available through apps and services like Tiller Money. Customers have spoken loudly, and every bank offering open banking is supporting the notion that you should have easier and more secure access to your data at any time.
Your data is reliably available through APIs. Banks that are embracing open banking are creating application programming interfaces (APIs) that make it easy for third-parties, like Tiller Money, to securely and reliably access your data. No screen scraping. No improvising. This should dramatically increase the quality and timeliness of data we feed into our customers spreadsheets. We expect this will have a positive impact on reducing duplicates, data irregularities, connection errors, and outages. No more daily 2FA security codes codes to refresh your accounts.
You won’t share your passwords. The method for sharing data will change too. You will no longer need to share your bank usernames and passwords because institutions that support open banking will allow you to authenticate directly through their site and grant Tiller Money access to your data using OAuth instead.
To use open banking authentication you will complete a one-time direct login to your bank’s site through our data provider’s secure connection portal and authorize Tiller Money to access balance and transaction data for your open banking enabled accounts going forward. You can login to your bank at any time and review which services have access to what, add new services, and revoke others. You’re in control.
You’ve likely experienced OAuth with many apps you already use, and this is absolutely the most secure and convenient way to share financial account data with services like Tiller Money.
Yodlee’s first open banking partner starting this fall
Tiller Money has worked with Yodlee as our primary data provider since our founding, and we’re excited Yodlee asked us to be their first partner to deploy their open banking service to the public.
As of today, we’re now supporting open banking for Citi customers on the latest integration with our data provider with more major institutions to come. Yodlee is moving fast to support open banking with the top 20 banks, adding more each quarter. We’ll be moving quickly to roll these out to Tiller Money customers as soon as possible too.
We hope that in the near future, every bank supports open banking. This will be a win for customers. It will also advance Tiller Money’s ability to deliver on our core values around privacy, reliability, and control.
Next steps for Citi customers
If you’re a Citi customer and you’re on the latest integration with our data provider you’ll have access to this new more reliable data feed option starting today. You only need to visit the Console (https://sheets.tillerhq.com/auth/google) and update the connection to Citi under the Account Summary by clicking “Connection > Edit credentials.”
If you don’t see an indication that you need to “update” the connection after clicking through to “edit credentials” it likely means you’re still on the older integration with our data provider or you can reach out to our team via chat to ask. If you’re interested in early access workflows for migrating to the newer integration, please fill out this form.