APIs

The company's new agreement with Envestnet Yodlee to share customers' account data over secure pipes is its 17th pact with aggregators and other fintech firms.

The technology provider has become a leading data aggregator. But questions have surfaced about its use of customer data.

Simple solutions may be a better alternative to customization, says the company's CEO.

The new product will allow fintechs to expand their financial service offerings without changing providers.

After a reboot in its tech strategy, the RIA custodian is “redesigning every aspect of the advisor experience,” it says.

The updates include access to the ultrahigh-net-worth portfolio management and customer relationship management systems.

Instead of developing new tools, wealth management innovators will focus on making existing planning tech more efficient.

Quovo is acquired by competitor Plaid, which says it wants to extend its aggregation into the brokerage space.

Data aggregators provide big advantages for RIAs, but criticism is mounting.

With the increased popularity of open architecture systems, fewer RIAs are operating their practices solely based on proprietary tech from a custodian.

Advisors should be scrutinizing vendors to find partners who share similar organizational values.

Bundling your home internet, cable, and telephone services was a great deal once, but not anymore. RIAs have to rethink purchases of all-in-one technology packages for their practices too.

The self-regulatory body says working with data aggregators increases the risk of cyber fraud, unauthorized transactions and identity theft. But aggregators say other links in the information chain are more vulnerable.

Following in the footsteps of Chase, Wells Fargo and others, Fidelity is launching an application programming interface to let third-party apps access customer data — as long as the customers grant permission.

The infusion comes as the financial services industry continues to search for safer ways for customers to share their account data with third-party apps.

The long-running feud between banks and fintech companies over screen scraping is morphing into a more nuanced and important conversation about how to exchange consumers' financial data securely and fairly.

A consortium of fintech companies have formed a new industry group to advocate for better data sharing via open APIs.