U.S. Bank partners with data aggregators and fintechs on account information
U.S. Bank has made agreements with seven data aggregator and fintech companies in a move designed to make it easier, faster and more secure for customers to connect their U.S. Bank account information with third party applications.
The agreements come as the bank builds up its Developer Portal. This contains application programming interfaces (APIs) that are designed to enable developers to quickly build services that securely connect to select U.S. Bank account information, as directed by the customer.
Among the seven companies that have entered into agreements with U.S. Bank, are:
- DecisionLogic, a provider of advanced bank verification solutions that enables lenders to instantly qualify potential borrowers based solely on their banking histories.
- eMoney Advisor, a financial planning platform that serves more than 60,000 financial professionals and 4 million households in the U.S.
- FileThis, a document aggregation platform that securely retrieves and organises bills, bank, tax, and other financial statements.
- Finicity, a provider of consumer permissioned financial data, access and insights.
- MX Technologies, the data platform for financial institutions that enables clients and partners to collect, enhance, analyse, present and act on financial data.
The Developer Portal APIs are designed to industry standards and comply with Financial Data Exchange (FDX) guidelines. U.S. Bank is a founding board member of FDX, which works with other financial institutions, data aggregators, and fintechs to create a standard and framework for customer-permissioned data sharing across the industry.
