Southwest Business Corp., known as SWBC, has entered into a partnership with Finicity, a Mastercard company and Open Banking solutions provider. SWBC will use Finicity’s Open Banking platform Finicity Pay for instant account validation of online ACH payments
Southwest Business Corp., known as SWBC, will rely on Finicity’s Pay for real-time verification of accounts.
“Our partnership with Finicity will allow SWBC to deliver new security capabilities protecting consumers and the institutions that serve them,” Tucker Stovall, vice president of product strategy at SWBC, said in a statement. “In addition, instant verification allows for speedy enrollment and immediate access to ACH transaction initiation, a significant improvement to the user experience.”
Finicity, a Mastercard company, is now a Nacha Preferred Partner for Account Validation through Finicity Pay, an integrated solution set of Finicity’s open banking platform.
Finicity, a Mastercard company and leading provider of open banking solutions, has signed a data access agreement with Brex.
“Finicity has been collaborating in earnest with financial institutions in signing data access agreements with banks and other traditional financial institutions. With our agreement with Brex, we are now extending our approach to fintechs,” said Finicity CEO and Co-founder Steve Smith. “We look forward to working with Brex in pioneering the way financial data is utilized to help businesses grow and achieve their goals.”
Mastercard announced it has completed its acquisition of Finicity, a leading North American provider of real-time access to financial data and insights.
“Today is a great milestone as we continue to build out the solutions that deliver on the potential of open banking,” said Craig Vosburg, president, North America, Mastercard. “We now turn our focus on bringing these two talented teams together. That starts with our shared commitment to consumer-centric data practices to create more value for consumers and businesses from the information in their account and give them more control in how that data is used.”
BMO Harris and Finicity sign a data access agreement in an effort to give consumers more control and secure access to their financial data. The agreement also defines rules for how Finicity and BMO will communicate and exchange financial data.
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