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I would like to know (in technical terms) how they "login" to your account to start off with if no banks offer an API for this?
I think that this is a good thing. I don't bank with ABSA but I do think that they are making the right decision. I bet you that 22seven has a EULA that states that they can't be held responsible if your credentials are compremised (They won't say in those exact words, but I bet they say something of the sort).
Customers stand to lose all their money by using this third party app.
That's to get the information after login.
You'd think a bank would employ measures to prevent login from sources other than the login page of the website.
Screen scraping involves going to the website. I think Yodlee just needs to make it look like it's you logging in from within SA. From tests I conducted overseas, at least some banks don't let you log in from outside SA without prior arrangement.