Hi guys. Is there any development planned for Curve APIs to integrate with other apps?
Here is the problem I think many of us have:
If you are deep into finance tracking, you might actually find it difficult to use curve. Many of us are using apps such as Emma/Yolt/MD to track spend. However using Curve and Emma/Yolt/MD is only possible if the underlying card bank supports open banking. But if it does not you are basically loosing track of transactions.
You can argue that Curve should be your ‘Emma/Yolt/MD’. But managing spend in Curve is pointless, since it would never include your income or transfers from friends that are paid into your main account or such things as direct debits or Apple/Android pay transactions. Oh yeah, and we are all still using Amex…
Basically there is no way you can put all your spend on Curve and even it would be possible Curve cannot compete with apps designed to manage finances.
I would recommend to look into how PayPal is integrated into Emma. PP is working essentially the same way as Curve, by recharging your other cards. Each transaction done using PP has 2 legs - one charge transaction and one ‘top-up’ transaction, so that overall PP balance is not changed (unless you used PP balance for transaction). You would also have a corresponding charge transaction on your PP undelying account, which would basically offset the PP ‘top-up’ transaction. Emma then realises these 2 transactions are offsetting each other (PP top-up and PP underlying card charge) and you are basically left with PP charge transaction, which you can then categorise. This is exactly the way I’d like Curve to be integrated with Emma.
Will this allow Curve to grow or make more money? I am not sure. But this definitely aligns with Curve’s mission to simplify finances.
PS. Curve can also be a hub for transactions from other banks. If underlying bank doesnt have APIs, but Curve has, this can be another benefit of spending through Curve. I guess it is not relevant for the UK, since all banks would have to adhere to open banking regulation, but might be usefull for other markets (e.g. US)