Finicity signs direct data agreement with Charles Schwab

Finicity, a leading provider of open banking solutions, today announced that it has signed a direct data agreement with Charles Schwab.

This commitment is designed to improve the security of data authorized by the consumer through the use of an application programming interface (API).

Through the API-based data sharing method, Schwab third-party and application customers using Finicity solutions can log in more securely and allow direct access to their financial account data.

“Finicity is committed to providing our customers with superior data access, quality and security so they can change the way their customers interact and benefit from their own financial data,” said Steve Smith, CEO and Co-Founder by Finicity. “We help consumers better manage their financial data and use it in ways that improve their financial lives. “

This API integration with Charles Schwab provides the entire fintech and financial services community with access, through Finicity, to customer-authorized financial account data to provide a variety of applications and services in financial management. , payments, loans and beyond. The result is improved data stability and accuracy.

The direct API experience will allow consumers, through their Schwab account relationships, to authorize access to their account data.

Both Finicity and Charles Schwab use the Financial Data Exchange (FDX) API specification leveraging open authorization (oAuth) technology, while eliminating the need for the user to share credentials when providing access to their data.

Finicity has established relationships with a wide variety of service and application providers that enable individuals and organizations to better understand, manage and control financial processes – from budgeting, saving and borrowing to transactions, to investments and loans. Finicity works with many of the most popular PFM (personal financial management) tools, and with many of the largest, most innovative lenders and payment providers, among other services.


Source link

About Nell Love

Nell Love

Check Also

Direct deposits for coronavirus relief to begin next week, Steven Mnuchin says

Congress debates the contours of the next potential coronavirus aid package as President Donald Trump …

Leave a Reply

Your email address will not be published. Required fields are marked *