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News and research on financial software quality assurance and risk management

Capital One Integrates with Finicity

9 August 2018
The API integration is intended to improve user access and data management for Capital One and partnering financial apps.

Capital One has inked a data aggregation deal with Finicity, a specialist in real-time financial data aggregation and insights. The partnership will allow users of Capital One’s Customer Transactions app to securely share data with  Finicity-supported third-party apps and services.

By integrating with Capital One’s API, Finicity will also allow services partnering with the bank to aggregate, manage and gain insights from user data. Capital One users, meanwhile, will have increased visibility and control over how their data is used, improving the bank’s compliance with GDPR and other data protection regulations.

“Finicity is hyper-focused on delivering the data insights our partners need to drive their services and enable their customers to make better financial decisions. This starts with superior data access, quality and intelligence,” said Finicity CEO Steve Smith. “Capital One has proven to be an excellent partner in pursuing these common goals of empowering consumers to have more access to their financial data and better manage their financial health.”

The API used leverages Open Authorisation (oAuth) technology, which provides secure, tokenised access directly via Capital One. This eliminates the need for customers to share their banking data with partner apps. The API used in this direct-access relationship leverages Open Authorization (oAuth) technology to eliminate the need for the user to share their banking credentials with third-party apps. Instead, it is replaced with tokenized access providing direct authorization through Capital One. Finicity provides data aggregation for a number of financial apps, including several personal finance management tools.


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