Launch HN: Belvo (YC W20) – Financial Data API Platform for Latin America • Hacker News Board

Re: Launch HN: Belvo (YC W20) – Financial Data API Platform for Latin America

#31

Post by someuser54541 » Fri, Apr 03, 2020, 8:56 PM UTC

alvis wrote: post #11

Having been working on open banking for the past 12 months, I can see a lot of similarity and potential here. If I'm correct, you're trying to be true layer for Latin America. Now question time, maybe a bit harsh but you need to think about it. 1. simple one, where is the user authentication flow? 2. the harsh one: as the same problem in OB, just curious what's your thought about building the trust between a third pa…

> Having been working on open banking for the past 12 months

What are you working on?

Re: Launch HN: Belvo (YC W20) – Financial Data API Platform for Latin America

#32

Post by viguerapablo » Fri, Apr 03, 2020, 8:59 PM UTC

usaphp wrote: post #26

There is a big delay in clicking "Run" next to each script snippet, I would add some loading animation, because it takes 2-3 seconds to load and it gives no indication that it's doing something in the background.

Thanks for the feedback!

Re: Launch HN: Belvo (YC W20) – Financial Data API Platform for Latin America

#33

Post by Scarbutt » Fri, Apr 03, 2020, 9:44 PM UTC

With what banks will you start in Colombia? How will the flow be for users that need to login with a token[0]? (6 digit code that changes every 60 secs). Others banks ask you to recognized an image you selected before.

[0] https://static.iris.net.co/dinero/upload/images/2009/10/1/84...

Re: Launch HN: Belvo (YC W20) – Financial Data API Platform for Latin America

#34

Post by alvis » Fri, Apr 03, 2020, 9:56 PM UTC

Just read this. You definitely find a good problem to deal with

https://www.entrepreneur.com/article/347661

Re: Launch HN: Belvo (YC W20) – Financial Data API Platform for Latin America

#35

Post by alvis » Fri, Apr 03, 2020, 9:58 PM UTC

someuser54541 wrote: post #31

alvis wrote: post #11

Having been working on open banking for the past 12 months, I can see a lot of similarity and potential here. If I'm correct, you're trying to be true layer for Latin America. Now question time, maybe a bit harsh but you need to think about it. 1. simple one, where is the user authentication flow? 2. the harsh one: as the same problem in OB, just curious what's your thought about building the trust between a third pa…

> Having been working on open banking for the past 12 months What are you working on?

On the ASPSP side

Re: Launch HN: Belvo (YC W20) – Financial Data API Platform for Latin America

#36

Post by osrec » Fri, Apr 03, 2020, 10:01 PM UTC

Hi, this looks great. I run an accounting/productivity SaaS (https://usebx.com) and would be interested in integrating with your API. Would love to learn more about your product over a call (contact details in my profile). Thanks!

Re: Launch HN: Belvo (YC W20) – Financial Data API Platform for Latin America

#37

Post by viguerapablo » Fri, Apr 03, 2020, 10:09 PM UTC

ocruzv wrote: post #30

That's an awesome platform, I'll start implementing it in my startup! Just a little feedback: I just signed up, but I don't know if it was a special case; Your sign up flow was broken for me: Filled the basic info in the first page of the signup flow (where you ask for email/password/name) and in the second part (the one of the URL and what we are building) just jumped an error saying that I should retry later. I jus…

Did you have an issue when typing in your url? Do you recall what the error message was? We do have a url validation in that form that requires https:// Typing in www. will give you an error.

Re: Launch HN: Belvo (YC W20) – Financial Data API Platform for Latin America

#38

Post by jasdeepsingh » Sat, Apr 04, 2020, 1:25 AM UTC

I'm CTO at a startup here in Brazil. I'd love to chat with you guys about potentially being a beta user of your platform. Let's connect!

Re: Launch HN: Belvo (YC W20) – Financial Data API Platform for Latin America

#39

Post by darkteflon » Sat, Apr 04, 2020, 2:46 AM UTC

ampdepolymerase wrote: post #17

notdang wrote: post #4

That's a big no-no: > The connection to bank institutions are made using the bank websites. When using Belvo, customers would need to user their website bank credentials, not the mobile ones if different.

This is literally how every banking API works. There are not many options aside from screenscraping.

This is fascinating. I’d always assumed that these open banking platforms had to go through a protracted period of relationship-building and negotiation with financial institutions, but you’re saying the most common approach is scraping? Is this how, e.g., Plaid does it?

Re: Launch HN: Belvo (YC W20) – Financial Data API Platform for Latin America

#40

Post by ampdepolymerase » Sat, Apr 04, 2020, 3:30 AM UTC

darkteflon wrote: post #39

ampdepolymerase wrote: post #17

Earlier quoted context omitted.

This is literally how every banking API works. There are not many options aside from screenscraping.

This is fascinating. I’d always assumed that these open banking platforms had to go through a protracted period of relationship-building and negotiation with financial institutions, but you’re saying the most common approach is scraping? Is this how, e.g., Plaid does it?

Correct. And not just for banking either. For financial brokerage APIs, a lot work the same way.