Finicity inks data exchange deal with Capital One

Thursday 9 August 2018 11:59 CET | News

Capital One Financial and Finicity have signed a data sharing agreement that enhances access and security through Capital One\s Customer Transactions API. 

The announcement follows the company’s July data sharing agreement with USAA.

The agreement uses Capital One’s Customer Transactions API to enable its customers to share financial data with Finicity-supported third-party solutions and services.

In addition to being able to access a broader range of resources for financial management, customers also will benefit from having increased control over how and when their data is used.

The partnership with Finicity, according to Capital One, was in many ways spurred by the company’s customers, whose demand for fintech solutions encouraged the bank’s decision.

Customer migrations are expected to begin in the first quarter of 2019. At that time, Capital One customers will be able to connect with the financial solutions that use Finicity’s financial data API.

Finicity’s platform provides FIs with financial management, payment initiation, and credit decisioning solutions.

Last month, Finicity announced a pair of new partnerships. The company integrated with SimpleNexus’ enterprise digital mortgage platform and mobile app to automate the borrower asset verification process for lenders.

Finicity also integrated its asset verification technology into Cre8tech’s Lender Price Digital Lending platform. Other major partnerships this year include collaborations with digital lender Blue Sage and Mortgage Cadence.

Finicity has developed more than 16,000 bank integrations. The company has raised more than USD50 million in funding, and includes Experian and Bridge Bank among its investors.

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Keywords: Finicity, Capital One, data exchange, fintech, data aggregation, security, API, payment
Countries: World