Wealthica, a Canadian wealth tracking platform, has introduced what it claims to be Canada’s “most comprehensive” financial API, opening doors for fintechs, financial institutions, consumer apps, and portfolio management systems to integrate their services.
The newly exposed wealth and bank API by Wealthica, boasting SOC 2 Type II certification, offers access to a vast network of over 150 Canadian financial institutions and brokerages.
Jeff Matte, Managing Director at Wealthica Business Solutions, emphasized the significance of financial connectivity, citing the API launch as a pivotal moment for the Canadian fintech ecosystem. Matte stated, “By opening our bank API to external partners, we aim to foster innovation, streamline processes, and boost a new wave of financial solutions tailored to the unique needs of the Canadian market.”
Wealthica’s bank API serves various purposes, including budgeting and wealth tracking tools, particularly in response to the discontinuation of Intuit Mint. The platform identified a heightened demand for sophisticated budgeting tools within the Canadian market, addressing this need through its API.
Additionally, the bank API facilitates streamlined account transfers between financial institutions, aiming to reduce the likelihood of abandoned transfers and enhance overall efficiency within the financial landscape.
With its commitment to fostering innovation and meeting evolving market demands, Wealthica’s financial API launch marks a significant milestone in advancing the Canadian fintech landscape, offering opportunities for collaboration and development across the industry.