Insurely launches Investment Data Access solution

By Gloria Methri

Open finance provider Insurely has announced the launch of a new product, Investment Data Access. The solution enables banks and other financial institutions to access data on their customers’ investments in real-time.

It covers various investment categories, such as stocks and mutual funds held in securities accounts, custody accounts, investment savings accounts, and endowment insurance.  The solution is in line with the upcoming open finance regulation, which aims to give consumers greater control and understanding of their financial data.

Data Access provides a comprehensive view of consumer behaviour related to their investments by accessing detailed and standardized data on their portfolios. This creates new opportunities for both banks and financial institutions to offer better advice. The solution simplifies the process of gathering and transferring investments from one institution to another. The data collection takes an average of 15 seconds.

When combined with pension and insurance data, Investment Data Access allows banks and financial institutions to offer their customers a full range of financial services.

“In today’s financial landscape, we have seen an increasing need for greater transparency and control over personal finances. Through Investment Data Access, we can offer consumers a more extensive overview of their financial assets, such as investments, non-life insurance, and pensions, all through one single platform. By addressing consumers’ needs for clarity, transparency, and control, we enable our customers to offer tools that help people make informed, confident decisions about their long-term financial well-being,” said Rafael Cappelletti, CPO at Insurely.

Investment Data Access allows banks and financial institutions to offer a more efficient and personalized experience where consumers can manage their investment portfolios in one place. With more profound insights into consumers’ investments, financial institutions can use Investment Data Access to enhance both consumers’ financial planning and their ability to make informed decisions.