Wells Fargo has signed an agreement with Finicity, in a move which will establish an application programming interface (API)-based method for sharing Wells Fargo customer information with the financial apps and services that Finicity supports.

Finicity is the first data aggregation provider to enter into a data exchange agreement with Wells Fargo, enabling third-party applications to access Wells Fargo customer data.

The agreement enables the apps and services that rely on Finicity’s APIs to access Wells Fargo customer-permissioned data once the proper authorisations are obtained.

Brett Pitts, head of digital for Wells Fargo Virtual Channels, said: “Establishing a data-sharing process with a provider like Finicity creates a much better experience for our customers. This allows our customers to choose where and how to use their financial data, while also maintaining the privacy of their user credentials.”

Steve Smith, CEO of Finicity, added: “We’re continually implementing strategies that ensure the highest levels of data quality, speed and uptime in our industry. This agreement will provide Wells Fargo customers using Finicity API partner apps and services greater control over their financial information.”

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