Finicity is part of the Mastercard family. Our open banking platform provides the financial data you need.

Open Banking, Payments

Finicity Pay™ for Faster Payments, Instant Account Verification, Less Fraud

I’m very excited to announce the newest addition to our open banking platform: Finicity Pay™, an integrated solution set that enables payments, account creation, and fraud mitigation. 

The move to digital continues to accelerate in the payment industry. Banks and fintechs are under pressure to transform processes across the payments ecosystem. They need to process a greater number of payments while giving consumers more flexibility without compromising security.

Finicity Pay transforms these challenges into opportunities for financial service providers to exceed the expectations of their digital consumers. Here’s how:

Enabling Payments for Today’s Digital Economy

Finicity Pay meets the needs of digital consumers and the digital payment ecosystem by enabling Finicity clients to verify the essential account details, owners, and balances that are needed to charge, get paid, or set up an account with confidence. With Finicity Pay, you can enable payments and validate funding sources. You can also seamlessly verify loan account details, including student loans, to detect eligibility for refinancing, loan consolidation, or to support employer student loan repayment or other benefit programs.

Instant Verification of User Data

Whether it’s setting up an account, enabling payments, or just verifying you’ve got the right person — Finicity Pay’s integrations allow for accurate, real-time, consumer-permissioned access to account details, such as the account owner name(s), address, balances, and account and routing transit number. Instant verification allows you to  get money moving faster than ever before. 

It gets better. Finicity Pay satisfies NACHA’s 2021 requirements for digital ACH transactions allowing for stronger anti-fraud controls. And, Finicity Pay’s data solutions enable faster, more confident transactions.

Increasing Security, Reducing Risk

With instant data verification, users can be confident they’re paying, charging, and setting up accounts with the right person or third party application. Finicity Pay provides all the information needed to help get payments and transfers sooner, while reducing the risk of fraud.  

We look forward to seeing how you’ll use Finicity Pay and its open banking capabilities to exceed your customers’ expectations. Do you have a question about Finicity Pay? Send us an email.  Download our Finicity Pay overview PDF. Or, request a demo online, to see Finicity Pay in action today.