Apiture unveiled My Data Exchange, a new capability that gives financial institutions a way to provide account holders with greater transparency and control over third-party data sharing. The feature enables consumers and businesses to securely connect their financial accounts to budgeting, lending, accounting, and other applications directly within those external platforms.
Key benefits of My Data Exchange include:
- Secure, API-based connectivity: My Data Exchange replaces legacy screen-scraping methods with highly secure APIs, delivering stronger protection and more reliable access to financial data.
- Extended digital presence: Financial institutions can deliver value beyond traditional channels, helping to boost engagement by meeting account holders wherever they are online.
- Enhanced trust and loyalty: Giving account holders clear access to and control over their financial data reinforces institutions’ commitment to transparency, helping to deepen long-term loyalty.
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Compliance-ready: My Data Exchange aligns with the principles of Section 1033 of the Dodd-Frank Act, giving consumers greater control of their data and aligning with the growing expectation for privacy, transparency, and portability.
“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 center of their account holders’ financial lives.”
Integrated with more than 40 core banking solutions, the Apiture Digital Banking Platform supports 250+ banks and credit unions throughout the U.S. CSI customers can access the Apiture platform and its new My Data Exchange feature via CSI’s open banking platform.
