SAN FRANCISCO--(BUSINESS WIRE)--Pentadata Inc., a leading, secure API-based financial data platform, today announced a partnership with Finicity, a leading provider of open banking solutions. Finicity, acquired by Mastercard in 2020, is working closely with Pentadata to help developers create apps that deliver value-added services to merchants and consumers through payment card data. Consumers can now provide permission access to their data so they can make payments through apps, receive targeted discounts using their payment card, and enable Pentadata’s clients to present the right targeted digital offers to their members at the right time.
Through the partnership, Pentadata’s customers can link their accounts to apps that use Finicity’s secure data network, which will supply account owner information, transaction aggregation and ACH solutions. The result is a better experience for the millions of loyalty program members of Pentadata customers, including fintech apps, merchants, and travel-related companies.
“Pentadata has been committed since its inception to putting data ownership where it belongs—in the hands of consumers,” says Pietro Grandinetti, PhD, Chief Technology Officer of the API platform used by fintech developers and supported by leading financial institutions worldwide. “We are pleased to partner with an organization like Finicity that is equally committed to empowering customers with consumer-first financial experiences.”
The integration with Finicity gives Pentadata and its developers the ability to have increased and redundant access to safe and secure financial data from bank accounts and credit cards.
“Our company is laser-focused on a consumer-first approach to data,” Grandinetti said. “Consumers’ relatively recent awareness of the misuse of their data has led to a loss of trust in many prominent technology companies. Pentadata and its partners, including Finicity, take an honest, transparent, and secure approach to data access.”
Getting consumers’ permission before accessing their data, making opt-out easy at any time, and not storing financial information are the core tenets of the newly announced partnership. Pentadata and Finicity are working together to protect all constituents across the financial ecosystem and, most importantly, consumers—the party with the most at stake.
To access and use Pentadata APIs, developers should visit www.pentadatainc.com.
About Pentadata
Pentadata believes a transparent approach to commerce makes the world a better place. The tenets of its API development platform include requiring consumers’ permission before their data is used; encouraging developers to access multiple data sources to protect consumers; and building analytical tools that provide insight needed to present meaningful offers. Pentadata is a new way for consumers to connect and control their most important financial data, enabling alignment with their favorite finance and commerce applications on a single, scalable, secure platform. To learn more, please visit www.pentadatainc.com.
About Finicity:
Finicity, a Mastercard company, helps individuals, families, and organizations make smarter financial decisions through its safe and secure access to fast, high-quality data. The company provides a proven and trusted open banking platform that puts consumers in control of their financial data, transforming the way they experience money for everything from budgeting and payments to investing and lending. Finicity partners with influential financial institutions and disruptive fintech providers alike to give consumers a leg up in a complicated financial world, helping to improve financial literacy, expanding financial inclusion, and ultimately leading to better financial outcomes. To learn more, please visit www.finicity.com.
