Data JV including Chase, Bank of America, Citi, Wells Fargo signs Pentadata Open Banking API Agreement
The industry’s first fully secured API-based financial data platform, DCA member Pentadata, Inc., today announced that it has signed an agreement to use the data access network comprised of 12 of the largest banks in North America. This leading network offers API-based, permissioned access to consumer financial data.
DCA Insight:
This is great news for consumers. Screen scraping and unauthorized access to access of bank usernames and passwords is a common practice, giving all parties on the data supply chain the ability to profit from consumer data—except the consumer. Pentadata is the first platform to access substantially all bank accounts and credit cards in North America with the secure, encrypted, consumer-permissioned APIs that put consumers in control.