Enhancing the Data-sharing Experience at USAA

For so many people, money is a great source of stress.  As a matter of fact, a whopping 71 percent of Americans worry about having enough to cover their expenses. And this is just one element of finances that occupy people’s time and energy.

For individuals and families, improving their financial wellness and achieving financial goals begins with access to their financial data. By connecting all their financial dots, they can gain insights that help them make smarter financial decisions.

This defines what we at Finicity do every day, which is ensuring superior access to financial data, providing the highest quality data possible, and surfacing intelligent insights for better decisions.

To that end, we’ve entered into a direct data-sharing agreement with USAA which will allow their members to more easily and more securely access and use their financial data in third party apps and services that utilize Finicity’s data aggregation capabilities.  The agreement centers on an application programming interface (API) that provides rapid access to data through a secure tokenized process.

USAA members will have no additional steps in setting up account access in those apps and services they use. The direct API experience will simply redirect them to USAA, where they will provide consent for data access and confirm what data can be shared. This replaces any use of credentials except with the initial direct login to USAA.  Additionally, a USAA dashboard will allow members to manage third-party app access whenever they choose.

Finicity is leading the financial data aggregator market by entering into these data-sharing agreements (see our announcements with Wells Fargo and JPMorgan Chase).  It’s reflective of our commitment to work together with banks to provide the best data and the best experience for our shared customers.

This agreement will give USAA members greater control of their financial information, and provide a more seamless, secure and transparent exchange of data.  Working together with USAA allows us to collaborate on a secure method for data sharing, while helping USAA fulfill its mission to help facilitate its members’ financial security.

The API integration is expected to roll out to USAA members throughout 2018 and 2019. Check out the statement about the relationship on USAA’s site.

We’re thrilled to be working with USAA on improving member experiences!