By FintechNews staff
-Constellation Digital Partners just added a unique data aggregation service to its platform. It allows account information to be accessible to other fintech services deployed on the platform to create a seamless and secure experience for credit union members.
– The feature makes third-party financial institution account information accessible to any fintech’s service deployed on their platform at a fraction of the legacy cost.
-Credit unions using the service can retrieve third party account data from data aggregation resources, which then passes the information to Constellation’s Accounts and Transaction Warehouses – to enable members to share their personal financial information safely and securely, among all other fintech services deployed on the Constellation platform.
-To fully leverage the data aggregation, Constellation partnered with FinGoal, a company that builds data infrastructure and analytics for the fintech ecosystem. Now, when a member links an off-core account in one service, built by one developer, that data becomes available for that member in other services built by other developers. The data is made available to the credit union as well.
-Data aggregation is foundational to members’ ease-of-use and enhancing their digital experience. Until now it was a costly and time-consuming effort to ensure integration of a credit union’s fintech-developed services, thus difficult to pursue. However, Constellation’s solution benefits both credit unions and fintechs by enabling their ability to deliver on member expectations.
-“Providing aggregated account data was made possible with FinGoal’s APIs – which is proof that collaborative development at the platform level is a strategic advantage,” said Constellation President and CEO Kris Kovacs. “Unlike legacy technologies, we can ensure services’ interoperability because innovations such as this are native to our platform, and not an after-thought.”