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Pentadata Announces Agreement with Finicity Open Banking Platform

Pentadata Announces Agreement with Finicity Open Banking Platform

Pentadata developer platform to access consumer-permissioned data from Finicity to deliver value-added services to merchants and consumers

Pentadata Inc., a leading, secure API-based financial data platform, 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.

“We are pleased to partner with an organization like Finicity that is equally committed to empowering customers with consumer-first financial experiences.”

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.

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“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.”

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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.

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