Meon’s Account Aggregator API vs Other Data Aggregation Methods (Screen Scraping / Unregulated APIs)

Some fintechs still use screen-scraping or unregulated third-party APIs to fetch customer financial data. These methods mimic user logins and capture data indirectly, which might seem fast but come with multiple risks. In contrast, Meon’s Account Aggregator API is part of RBI’s regulated framework, offering secure, consent-based access to verified financial data.

Comparison Points:

1. Regulatory Compliance

   • Screen Scraping: Often violates bank terms; not RBI regulated.

   • Meon API: Built on RBI’s AA framework; consumers retain control.

2. Security & Privacy

   • Unregulated APIs: May capture credentials or require risky permissions.

   • Meon API: Uses encrypted, consent-driven flows with strong privacy.

3. Data Reliability

   • Screen Scraping: Prone to breaks when bank apps update.

   • Meon API: Stable connections with Financial Information Providers.

4. User Trust

   • Unregulated: Users hesitant to input passwords or share screenshots.

   • Meon API: Users explicitly control consent before data sharing.

5. Business Value

   • Unregulated: May look cheap initially but risks compliance fines.

   • Meon API: Scalable and audit-ready for growth.

Conclusion:
For businesses that need secure, compliant access to user financial data — especially for lending, credit decisions, and analytics — Meon’s Account Aggregator API is the superior choice over screen scraping and unregulated data-pull methods.