Capital One and eMoney Advisor Announce API Data Sharing Agreement
API enables Capital One Customers to Safely Connect Personal Financial Data with eMoney Advisor's Suite of Services
MCLEAN, Va., Jan. 24, 2018 /PRNewswire/ -- Capital One Financial Corporation (NYSE: COF) today announced an agreement with eMoney Advisor, LLC, allowing Capital One customers to securely import personal financial data to eMoney's financial planning platform without sharing login credentials.
The agreement with eMoney utilizes Capital One's Customer Transactions Application Programming Interface (API), enabling customers to directly connect their Capital One account information to eMoney's client portal. Customers will be able to use the API to connect their accounts by early summer of 2018.
The Customer Transactions API leverages oAuth capabilities to provide third parties with tokenized authorization to access account information upon a customer's request, without requiring the sharing of login credentials with a third party. The API enables customers to utilize eMoney's tools in a way that is more secure, with access always under the user's control.
"Our focus with this API has always been to ensure that our customers can share their transaction data with the third parties they trust in a way that is simple, secure, and always under our customers' control," said Becky Heironimus, Vice President of Enterprise Digital Products and Data Connections at Capital One. "eMoney offers a suite of products that we know our customers value, and we look forward to working together to offer our customers transparency, security, and peace of mind about how their data is shared".
As announced in November 2017, eMoney is gradually implementing an API strategy to provide end-clients with greater control of their financial data and enhance their experience in the eMoney platform.
"We're pleased to launch this API with Capital One, offering added value to nearly 30,000 shared clients who access eMoney through a client portal provided by their financial advisors," said Jess Liberi, head of product management at eMoney.
Through the direct data-sharing API partnership, customers of the two companies will benefit from access to accurate and stable data, and increased transparency and control over how, when, and with whom they choose to share their Capital One financial transaction data.
About Capital One
Headquartered in McLean, Virginia, Capital One Financial Corporation offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.
Capital One launched its Customer Transactions Application Programming Interface (API) in 2017, providing its customers with the ability to more safely and securely share their transaction data with participating third party organizations that they trust. Capital One has executed contracts for its Customer Transactions API with Intuit, Abacus, eMoney Advisors, Expensify, Xero, and Clarity Money.
Visit the Capital One newsroom for more Capital One news.
About eMoney Advisor, LLC
eMoney Advisor, LLC ("eMoney"), based in Radnor, Pennsylvania, is the leading scalable wealth management technology developed for financial professionals, firms and enterprises of all sizes. Rooted in collaborative financial planning, eMoney's technology enables financial professionals to build stronger client relationships, streamline business operations and drive revenue and growth. Developed and perfected by 600 passionate, innovative and dedicated employees in three locations, eMoney's solutions transform the wealth management experience for nearly 50,000 financial professionals and 2.1 million end-clients nationwide.
For more information, please visit: www.emoneyadvisor.com.
SOURCE Capital One Financial Corporation
Share this article