Candescent, a leading independent digital banking technology provider, and Ninth Wave, provider of single point connectivity to the open banking ecosystem, announced the expansion of their strategic partnership, further enhancing data sharing capabilities through the Candescent platform.
Candescent launches Open Data Solutions with Ninth Wave to further enhance data sharing capabilities through the Candescent platform.
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Candescent and Ninth Wave have a long-standing relationship, supporting more than 250 banks and credit unions with secure embedded finance integrations through Candescent’s digital banking platform. The launch of Candescent Open Data Solutions with Ninth Wave enables financial institutions of all sizes to now leverage modern APIs for secure, consumer-permissioned data sharing. This approach improves customer experience and operational efficiency while supporting regulatory compliance with Personal Financial Data Rights and CFPB Rule 1033.
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“We’re thrilled to make Ninth Wave solutions available through the Candescent digital banking platform as part of our long-standing partnership,” said George Anderson, Founder and CEO of Ninth Wave. “This partnership will allow financial institutions of all sizes to gain the operational efficiencies, reliability, and scalability of a single point of integration to open finance APIs and business applications.”
Candescent Open Data Solutions with Ninth Wave offers high levels of transparency and control, providing access to and oversight of shared banking consumer data. This solution enables financial institutions to integrate into the apps and third-party solutions used by retail and business customers while maintaining data privacy and compliance, while avoiding third-party screen-scraping and manual data upload processes.
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“Ninth Wave is a domain expert in connectivity for open finance. Like Candescent, it understands that more reliable, secure, consumer-permissioned data sharing is a strategic imperative that must be addressed,” said Gareth Gaston, Chief Product Officer of Candescent. “With our integrated solution, banks and credit unions will be able to access Ninth Wave open data capabilities from within the Candescent digital banking platform. We’re helping financial institutions enhance the user experience, drive new revenue streams and strengthen industry partnerships – all while helping to ensure their compliance within upcoming regulatory changes.”
Candescent CPO Gareth Gaston and Ninth Wave Founder George Anderson will be speaking more about 1033 compliance and open banking requirements today at the FDX Global Summit. Learn more about the event
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Source – PR Newswire
