As the co-founders of Finicity we are thrilled to share that Finicity will become a part of Mastercard!
When we started Finicity over a decade ago, we set out to help individuals and families better manage their finances by providing a technology-driven budgeting platform and the data needed to make smarter financial decisions. Finicity was truly one of Fintech’s pioneers.
We have since grown to become a trusted data access and insights platform for financial services innovation. We empower consumers to access, control and permission their financial data for use within other fintech and financial services products. Our clients are some of the most forward-thinking organizations in the world, as they transform the way consumers and businesses experience money—everything from budgeting, saving and borrowing to transacting, investing and lending.
And while this is a major mile marker for Finicity, it is only one on our continuing journey of consumer empowerment. We believe what we do will change the world for the better. We see tremendous opportunity to improve financial literacy, expand financial inclusion, reinvent money movement, transform digital underwriting, pioneer digital trust, revolutionize credit scoring and generally accelerate financial technology.
The next phase of this growth will happen as part of Mastercard. For more than 50 years, Mastercard has fostered a culture of innovation and has embraced technology advancements.
Mastercard invested early in open banking and launched a set of solutions in Europe last year. Today, these leading services are live in a dozen countries. With the addition of Finicity, Mastercard expects to not only advance its open banking strategy but enhance how it supports today’s digital economy. This strategic approach demonstrates how Mastercard is an excellent fit.
We are confident Mastercard is the right partner at the right time to enhance the trajectory of Finicity in accomplishing our mission. Combining our efforts with Mastercard’s resources, partnerships and expertise, will allow us to expedite our progress and expand our reach.
Over the years, Finicity has connected millions of consumer accounts, helping them permission the use of their data to their benefit. Across personal financial management, lending, credit scoring, credit decisioning, payment initiation and more, Finicity has fueled the promise of fintech, which is to enhance a consumer’s or organization’s ability to accomplish their financial goals.
To our clients and partners, we are very aware that where Finicity is today wouldn’t have happened without your support and collaboration. There hasn’t been anything more fulfilling in business than working with each of you to launch something new that meaningfully changes consumer experiences.
A special thank you to Financial Technology Partners (FT Partners) and Cooley LLP for their advice and support through this process.
We look forward to our partnership with Mastercard and believe it will lead to greater possibilities for our clients and partners, both those we work with today and those we’ll work with in the future.
We’re excited to embark on this next leg of our journey with Mastercard and furthering our goal of changing the world.
Steve Smith and Nick Thomas