Research profiles top industry players with key insights to guide vendor selection
Totavi, a leading fintech consulting firm, released a comprehensive report and evaluation of data aggregators, a critical component of the modern fintech ecosystem. The Data Aggregator Report provides deep insights into the evolving landscape and provides guidance for fintechs looking to select the right tools to power their products.
“Data aggregation is fundamental to building a successful fintech product today, but it can be difficult to navigate all the complexities as the space evolves rapidly”
The demand for data aggregation services has grown significantly with shifting consumer behaviors. With the majority of consumers holding more than one credit card, the need for a unified financial view has never been greater. The Data Aggregator Report draws on insights from industry experts, a proprietary research survey of fintech companies, as well as interviews with real-world users to provide a clear understanding of what to look for when selecting an aggregator.
To gain a deeper understanding of the factors driving data aggregator selection, Totavi surveyed decision-makers from a range of fintech companies. The findings revealed that the most critical factor for respondents in choosing a data aggregator is reliability (27%), followed by security (21%), speed (15%), and development experience (15%).
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“Data aggregation is fundamental to building a successful fintech product today, but it can be difficult to navigate all the complexities as the space evolves rapidly,” said Matthew Goldman, Founder of Totavi. “While it can be tempting to immediately default and select the largest industry player, this report offers clarity and practical advice to help fintechs make sense of their options and make an informed decision based on their unique business needs.”
The Data Aggregator Report evaluates the primary players in the space with the greatest prominence in the market and diversity of solutions, including Plaid, Finicity, MX, MethodFi, Teller, and Yodlee. Key findings show that while Plaid is a major industry player and often wins as a default option, careful evaluation of vendors is key as other players may offer more precise features, customization, or flexibility.
“This report validates a lot of the challenges we faced when choosing a data aggregator,” said Jordan Mackler, Co-Founder and CEO, ScribeUp. “Totavi’s industry expertise and in-depth analysis cuts through the noise and offers practical insights to make a strategic business decision.”
Totavi’s exclusive research and market analysis is available for an annual subscription fee of $795.Totavi also partners with clients to provide custom research and analysis that addresses specific business needs.
Totavi is a no-nonsense boutique consulting firm built for fintechs by industry veterans. With deep operational experience spanning from the earliest days of a startup through high-growth phases and public company leadership, the Totavi team delivers direct, actionable advice that helps financial industry organizations of all sizes and types compete in and dominate their markets. Totavi’s team includes founders, investors, and senior executives from companies such as Bankrate, Apto Payments, Vertical Finance, and Wallaby Financial. Going beyond slide decks and recommendations, Totavi works in the trenches with clients to solve hard problems and seize opportunities.
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