Account Aggregation Services

Financial institutions, wealth management firms, financial advisors, investors and mass market consumers rely on our Account Aggregation Services for financial planning, reporting and budget management.

AllData Aggregation processes more than $30 billion in assets per day and delivers data from more than 18,000 sources, including bank, investment, retirement, insurance, credit card, mortgage and annuity accounts. Account Aggregation Services from Fiserv uses a sophisticated, scalable, flexible and highly secure process to create a comprehensive view of a consumers financial picture. AllData Aggregation can also be accessed through REST APIs, enabling technology providers to develop innovative products and services with speed and agility.

Account Aggregation Services offer solutions for a variety of applications, including:

• Advisor-directed financial planning
• Self-directed investment management
• Personal financial management
• REST API integration

Here’s how the process works:

1. Accountholder provides accounts and credentials using a secure portal
2. Account Aggregation Services use the accountholder-provided credentials to gather data using structured files like OFX and CSV, data harvesting and data feeds
3. Account Aggregation Services clean and normalize aggregated data
4. Account Aggregation Services deliver data to and integrate with enterprise-class advisor applications such as financial planning and portfolio reporting systems

Finlocker recently chose AllData Aggregation. Read how they plan to leverage AllData for enhanced analytics for the mortgage industry.

Benefits

Account Aggregation Services benefit organizations in a number of ways:

• Actionable data: Financial institutions, advisors and accountholders receive a complete portfolio view of managed and held-away assets for use in financial planning, portfolio reporting and personal financial management
• Ability to monetize aggregation: Balance and transaction alerts help financial institutions attract new deposits, cross-sell services and increase retention. Opportunity alerts help advisors attract new assets and offer advice on held-away assets
• Superior data quality: Clients benefit from data accuracy, completeness and coverage in order to deliver solutions that help monetize account aggregation
• Ease of integration: Flexible deployment and integration options, including REST APIs, give financial services companies control over the user experience with minimal effort
• Superior support: Proactive monitoring and issue resolution, combined with a performance dashboard and SLA reports ensure clients have a complete understanding of service performance