Finicity and Wells Fargo Ink Data Exchange Deal

SAN FRANCISCO–()–Wells Fargo & Company (NYSE:WFC) and Finicity, a number one supplier of real-time monetary knowledge aggregation and insights, have signed an settlement that gives an utility programming interface (API)-based methodology for sharing Wells Fargo buyer info with the monetary apps and companies that Finicity helps.

Finicity is the primary knowledge aggregation supplier to enter into a knowledge change settlement with Wells Fargo, enabling third-party functions to entry Wells Fargo buyer knowledge. This settlement advantages the broader monetary utility developer group by permitting the apps and companies that depend on Finicity’s APIs to entry Wells Fargo customer-permissioned knowledge as soon as the right authorizations are obtained.

We’re regularly implementing methods that guarantee the best ranges of information high quality, pace and uptime in our trade,” stated Finicity CEO Steve Smith. “This settlement will present Wells Fargo prospects utilizing Finicity API companion apps and companies better management over their monetary info.”

Another key element of this knowledge change is safety. A direct-access relationship eliminates the necessity for the person to offer credentials by means of third-party apps. Instead, that is changed with direct authorization by means of Wells Fargo and subsequent authentication by means of tokenized entry.

Establishing a data-sharing course of with a supplier like Finicity creates a a lot better expertise for our prospects,” stated Brett Pitts, Head of Digital for Wells Fargo Virtual Channels. “This permits our prospects to decide on the place and the way to use their monetary knowledge, whereas additionally sustaining the privateness of their person credentials.”

Finicity has established relationships with a wide range of service and utility suppliers that enable people and organizations to handle monetary processes. This contains offering knowledge aggregation for a number of of the most well-liked private monetary administration (PFM) instruments out there in the marketplace at the moment. Once the API-based methodology of information sharing is in place, anticipated to happen this summer time, Wells Fargo prospects can immediately and securely join with Wells Fargo, whereas utilizing monetary administration instruments that use the Finicity monetary knowledge API.

Finicity will entry Wells Fargo’s knowledge change API on Wells Fargo’s Gateway Channel developer portal, which was launched in September of 2016. Wells Fargo Gateway presents APIs that enable business and company banking prospects to combine Wells Fargo merchandise, companies and info into their very own digital environments.

About Finicity

Finicity allows a monetary data-sharing ecosystem that’s safe, inclusive and modern. Through its real-time monetary knowledge aggregation and insights platform, Finicity supplies options for monetary administration, funds and credit score decisioning. It can also be main the event and promotion of trade requirements. The firm has developed greater than 16,000 financial institution integrations, with the overwhelming majority by means of connections that present entry to formatted financial institution knowledge, enhancing info entry and accuracy. Finicity is the winner of API World’s 2016 Finance API of the Year. To study extra and test-run the rock-solid API at the moment, go to www.finicity.com.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based monetary companies firm with $1.9 trillion in belongings. Founded in 1852 and headquartered in San Francisco, Wells Fargo supplies banking, insurance coverage, investments, mortgage, and client and business finance by means of greater than eight,600 areas, 13,000 ATMs, the web (wellsfargo.com) and cell banking, and has workplaces in 42 international locations and territories to assist prospects who conduct enterprise within the world economic system. With roughly 269,000 staff members, Wells Fargo serves one in three households within the United States. Wells Fargo & Company was ranked No. 27 on Fortune’s 2016 rankings of America’s largest companies. Wells Fargo’s imaginative and prescient is to fulfill our prospects’ monetary wants and assist them succeed financially. News, insights and views from Wells Fargo are additionally out there at Wells Fargo Stories.