Mastercard’s Finicity signs data access agreement with Green Dot

By Pavithra R

Finicity, a Mastercard company and leading provider of open banking solutions, has announced signing a data access agreement with Green Dot Corporation, a digital bank and fintech focused on delivering trusted, best-in-class banking and payment solutions that seamlessly connect people to their money.

The integration enables the digital bank’s customers to securely connect to approved third-party apps and accounts.

“We’re excited to announce Green Dot as the next in our data access agreements lineup. The company is a big proponent of client empowerment, giving their banking clients the control to utilize their financial data to benefit them. This aligns well with Finicity’s mission to bring greater transparency to consumers to improve financial health and inclusion,” said Steve Smith, CEO of Finicity.

Through this agreement, Finicity is extending its leadership in direct data access through the use of an application programming interface (API). Finicity’s signed data access agreements with many of the nation’s largest financial institutions, credit card companies, and wealth management institutions and currently covers 63% of their open banking platform traffic with direct API access.

“This integration enables customers to put their financial data to work for them by offering secure, seamless connections to tools and features that can have a meaningful impact. The majority of Americans, and particularly low- to moderate-income consumers, can benefit from tools that help them feel more in control and connected to their money, and our partnership with Finicity is an exciting step in that direction,” said Abhijit Chaudhary, SVP and GM, Direct to Consumer Products, Green Dot.

Established since 2000, Finicity helps individuals, families, and organizations make smarter financial decisions through its safe and secure access to fast, high-quality data. It works with many of the popular Personal Financial Management (PFM) tools, and many of the largest lenders and most innovative payment providers, among other services.