Candescent and Ninth Wave launch Open Data Solutions for banks & credit unions

By Gloria Methri

Candescent, a digital banking technology provider, and Ninth Wave, an expert in open banking connectivity, have expanded their strategic partnership with the launch of Candescent Open Data Solutions. This new capability enables financial institutions to leverage secure, API-based, consumer-permissioned data sharing, enhancing customer experience, operational efficiency, and compliance with evolving regulatory mandates, including CFPB Rule 1033.

With over 250 banks and credit unions already supported through their joint ecosystem, Candescent and Ninth Wave are deepening their collaboration to replace legacy data-sharing methods, such as screen scraping and manual uploads. The new solution provides transparency, control, and seamless integration with third-party apps used by both retail and business customers.

“We are thrilled to make Ninth Wave solutions available through the Candescent digital banking platform as part of our long-standing partnership,” said George Anderson, Founder and CEO of Ninth Wave. “This partnership will allow financial institutions of all sizes to gain the operational efficiencies, reliability, and scalability of a single point of integration to open finance APIs and business applications.”

Key benefits of the collaboration include:

• Modern API connectivity for real-time, secure data exchange
• Enhanced consumer transparency and control over shared financial data
• Improved compliance with data rights regulations and CFPB directives
• Streamlined user experience by eliminating outdated data aggregation methods

“Ninth Wave is a domain expert in connectivity for open finance. Like Candescent, it understands that more reliable, secure, consumer-permissioned data sharing is a strategic imperative that must be addressed,” said Gareth Gaston, Chief Product Officer of Candescent. “With our integrated solution, banks and credit unions will be able to access Ninth Wave open data capabilities from within the Candescent digital banking platform. We are helping financial institutions enhance the user experience, drive new revenue streams and strengthen industry partnerships – all while helping to ensure their compliance within upcoming regulatory changes.”