Comment Banks have the power to fix this (Score 1) 85
Banks do incur large costs in supporting billions of API calls from companies like Plaid and Inuit. But only because their current financial data access model is so inefficient, requiring polling for updates, often continuously in the background. Banks have it in their power to make this more efficient by adopting modern approaches: event-driven systems such as webhook/event notifications, and standardized open banking APIs like those used in Europe that don't involve so many redundant queries.