Topic: Is OFX the only option?

I am developing a personal budgeting software, and I'm trying to understand my options for automtic retrieval of bank statement data.  I have two questions:

Is OFX the only option for automatically retrieving bank statement transactions?

Are users required to sign up for DirectConnect with their banks in order to use OFX to retrieve bank statement transactions?  Just retrieving data, not initiating any transactions.

Great forum!  Thanks for organizing.

Re: Is OFX the only option?

OFX is your best bet.  Other options are screen scraping which is horribly complicated.

Most banks allow you to use the same login information as your regular account.  It would be better if there was an option to add a read-only login for OFX use only, but that often isn't the case.

Re: Is OFX the only option?

Thanks a lot for the reply Jesse.