Capital One and Intuit sign data sharing deal
Written by Anthony Strzalek
Capital One has announced an agreement with Intuit which allows its customers who use Intuit's suite of services including QuickBooks Online, Mint, and TurboTax, to securely import their financial data without sharing login credentials.
The data sharing deal utilises an application-programming interface (API) enabling Capital One customers to directly connect their personal and small business credit card and banking information with Intuit.
Aligned with the Consumer Financial Protection Bureau's recently released principles for protecting consumer-authorised financial data sharing, the direct data sharing API helps create a level playing field for consumers to share their financial data with trusted third parties in a way that is within the consumer's control.
Through the direct data-sharing API partnership, mutual customers of the two companies are expected to benefit from access to accurate and stable data, and increased transparency and control over how, when and with whom they choose to share their Capital One financial data.
Becky Heironimus, vice president of enterprise digital products and data connections at Capital One, said: “We know many of our customers actively use the Intuit suite of products, and we are excited to enable this partnership allowing customers to share their data in a way that is secure, transparent and under their control.
“We look forward to building on this relationship to offer users new ways to access data and importantly, to continue enhancing the customer experience.”
CeCe Morken, executive vice president and general manager of the strategic partnership group at Intuit, added: “We continuously strive to deliver a great experience for consumers, small-businesses and the self-employed. Working through Capital One's API, our shared customers can be confident that they'll be getting simplified access to their account information so they can make informed decisions for themselves or their business.”