Re: Truist and Direct Connect

Here is the comment from Truist that suggested to me that they were going with EWC+.

"Truist has implemented the necessary code to allow downloads from 3rd party aggregators, however it is now dependent on the aggregators to test and implement changes needed to continue downloads."

Direct Connect doesn't need any testing by 3rd party aggregators: as soon as the financial institution supplies the correct OFX data to the aggregator (Intuit, for Quicken), Direct Downloading will be successful.

Truist may well have decided to try to use Direct Connect, but supplied odd language to describe the current state of affairs. And I don't believe that the moderators in the Quicken Community get things right all the time.

Truist is a "Sustaining Member" of the Financial Data Interchange - I believe that membership costs money. And that membership is not necessary or useful for Direct Connect downloads.

As I noted in another discussion here, I expect more and more financial institutions to switch to EWC+, including those fi's currently providing Direct Connect downloads. EWC+ appears to be more secure than Direct Connect, and it appears EWC+ will cost the financial institution's less than Direct Connect. Even if Truist is not currently implementing FDX, I wouldn't be surprised to see them do that in the not too distant future.

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John Pollard
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