Quovo, a leading provider of account aggregation and data analytics for finance, today announced the launch of its Account Authentication API.
This RESTful API allows developers to instantly connect to financial accounts and verify key account data, helping to confirm account ownership, facilitate payments and cash transfers, and streamline the process of opening and funding new accounts. Together with Quovo's flagship Aggregation API, the Quovo Authentication API provides users with an end-to-end data solution to support client onboarding and beyond.
"Our API Suite leverages the strength of Quovo's data platform, which currently supports millions of end users through our work with top financial institutions, advisory firms, and fintech companies," said Lowell Putnam, Co-Founder and CEO of Quovo. "We created our Authentication API in response to client demand, after more than tripling our API users over the past twelve months. We're already a critical part of the ongoing relationship between financial institutions, financial advisors, and end clients, so it was a natural progression to extend our services to authentication."
June Ou, CTO of SoFi and an early adopter of Quovo's Authentication API, added, "Our members expect our products to deliver seamless, easy-to-use experiences to manage their financial lives. We're excited to be an early partner of Quovo's on this new offering, which makes it really easy to authenticate accounts in a secure way." Quovo's Authentication API was built with developers in mind first and foremost, equipping them with a ready-to-build toolkit for powering the next generation of financial services.
The Quovo Authentication API instantly links accounts using login credentials and offers unique value-add features not available through other services, such as:
Integrated webhooks for real-time visibility into end user activity
Embeddable white labeled interface for easy integrations and an elegant user experience
Beta access to hybrid micro-deposit/ credentials-based verification for coverage of all financial institutions in the US
Contributed | what does this mean?