If you wanted to let another organization see your bank account, you’d have to give them your login details. This breaks the bank’s T&Cs, and would cause all kinds of issues in case of fraud or misuse.
How Europe’s push for Open Banking is forcing banking apps to improve their UX
Michael Gardner
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Readers might be interested to know that there are currently quite a few providers of apps, that aggregate data from multiple banks & banks accounts, which do use this approach to access user’s data.

Those providers unsuccessfully lobbied against a ban on screen scraping which is due to be introduced with PSD2 because it would

make fintechs technologically dependent on banks and therefore grant incumbents a gatekeeper role on the fintech sector.

see this blog for more details.

But personally I don’t see why access user’s data via the banks new APIs should be an issue, assuming that banks & the regulators do make access to their APIs straightforward..

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