Finicity was awarded Finance API of the year by API World for its Financial Data API with TxPUSH. At FinDEVr New York 2016, Finicity unveiled the first TxPUSH-compliant, real-time aggregation service that pushes transaction data to software apps rather than the standard “pull” method common to most aggregation services. Read the full article on the Finovate Blog.
With continued innovation and capital flowing into fintech, we are in the midst of a defining moment for innovation in financial services. User-permissioned access to transaction data via core aggregators and standards-based bank APIs are driving the next wave of the fintech revolution, providing innovative developers with the data necessary to disrupt incumbent financial apps and solutions. Read the full article from Finicity President Nick Thomas on App Developer Magazine.
Banks may have a difficult time meeting consumers’ technology needs as quickly as they’re demanded, due to a heavily regulated environment. The services that financial apps bring to the table fill that gap, and now it’s up to banks to adopt more progressive data API strategies. In order to kick off the era of an open financial web, banks, aggregators and financial application providers are working together to establish industry standards that positively affect all their customers. Read the full article from Finicity President Nick Thomas on PaymentsSource.
The financial walled garden of the past is being replaced by the open financial web, where banks, aggregators and financial apps create an ecosystem of financial products for their joint customers. With the days of the walled garden behind us, banks that want to compete in the era of the open financial web must embrace aggregators and financial app providers to create a much broader solution set than financial services of the past. Read the full article from Finicity CEO Steve Smith on Banking.com.
Banks are now being judged on more than whether or not consumers can simply access their accounts on mobile — they’re being judged on the overall experience a consumer has when interacting with their digital platform. It’s imperative that banks and credit unions develop mobile apps that are user-friendly, secure and provide millennials the ability to meet financial goals. Read the full article from Finicity CEO Steve Smith on Banking.com.
The Finicity platform and API enables software developers to securely and easily integrate customer financial data into their apps. With the RESTful based Finicity Aggregation API, developers can deliver exceptional user experience by leveraging the key API features. Read the full article and check out the infographic on the fintech ecosystem on Let’s Talk Payments.
At FinDEVr New York, Finicity launched TxPUSH to create a standard for financial data aggregation. TxPUSH will eliminate the need for batch data transfers, and give users access to data in real-time or nearly real-time. The availability of financial transaction and account data, delivered instantly and anywhere the account holder wants it, will unlock fintech innovation, essentially creating for fintech what Bluetooth did for the wireless industry. Read the full article on Bank Innovation.
Intuit, the data aggregator that powers apps like Mint and QuickBooks, announced earlier this week it will shut down its Financial Data APIs. Intuit called out aggregation partner Finicity to help service financial institutions in need of APIs. Read the full article on InvestmentNews (registration required).
Intuit Developer Group has decided to discontinue its Financial Services APIs (CAD), which provide financial account aggregation services to a number of third parties. Writing at Intuit’s developer page, Head of Financial Data Services Emily Silberstein explained that Intuit will instead partner with Finicity to provide a façade API interface that translates Intuit-structured API calls into Finicity-structured API calls. Read the full article on the Finovate Blog.