Apiture launches secure bank data sharing tool

By Vriti Gothi

Apiture, a digital banking technology provider now part of CSI, has introduced My Data Exchange, a new feature designed to help banks and credit unions give customers greater control over how their financial data is shared with third-party applications.

The launch comes as financial institutions face rising demand from consumers and businesses to connect bank accounts with budgeting, lending, accounting and other financial tools, while regulators push the industry away from legacy data-sharing practices such as screen scraping. In the US, Section 1033 of the Dodd-Frank Act is expected to formalise consumers’ rights to access and port their financial data, increasing pressure on banks to adopt secure, standardised approaches.

My Data Exchange enables account holders to link their financial accounts to third-party apps through API-based integrations with data aggregators, including Plaid and Finicity. The feature allows users to view and manage all active data-sharing connections directly within Apiture’s consumer and business digital banking platforms, providing visibility into which external services can access their information.

By replacing screen scraping with APIs, the solution aims to improve security, data reliability and uptime, while reducing operational risk for financial institutions. For banks and credit unions, Apiture positions the feature as a way to extend their digital presence beyond owned channels and remain relevant as customers increasingly interact with financial services through third-party platforms.

“My Data Exchange is a true differentiator for today’s banks and credit unions as consumers and businesses demand more control over their financial data,” said Chris Cox, EVP and general manager, CSI Digital Engagement Solutions. “By enabling secure, seamless data connectivity, Apiture’s community and regional financial institution clients can deepen digital engagement and further position themselves at the centre of their account holders’ financial lives.”

The Apiture Digital Banking Platform is integrated with more than 40 core banking systems and supports over 250 US banks and credit unions. CSI customers can access My Data Exchange through CSI’s open banking platform, as institutions continue to prepare for a more regulated and interoperable data-sharing environment.