Finicity
Finicity provides open banking API infrastructure for consumer-permissioned financial data aggregation, account verification, payment initiation, and credit decisioning. Operating as a Mastercard subsidiary, the platform connects 10,000+ financial institutions and processes 15 billion+ API calls annually across US, Europe, and Australia.
- Company typePrivate
- Founded1999
- HeadquartersSalt Lake City, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingSoftware
What Finicity does
Finicity provides open banking API infrastructure enabling secure, consumer-permissioned financial data sharing for deposit accounts, identity verification, payment initiation, and credit decisioning use cases. The platform aggregates and enriches financial data across multiple account types and providers, producing transaction categorization, cash-flow insights, account ownership verification, and AI-modeled payment risk indicators. Its core proprietary product is Finicity Lend, an integrated credit-decisioning solution set for banks, lenders, and fintech developers, while partner-enabled products include Experian Boost (which has served over 6 million consumers and added more than 50 million credit points collectively) and the UltraFICO Score developed with Experian and FICO. The platform connects to 95% of U.S. deposit accounts, all Australian banks, and nearly 3,000 European banks, processing 15 billion+ API calls annually across U.S., European, Australian, and Brazilian markets.
Finicity operates a usage-based API revenue model with multi-year enterprise contracts, supplemented by subscription-based credit decisioning solutions and transaction fees for embedded open banking platform services such as Experian Boost. The go-to-market combines direct enterprise sales to financial institutions, fintechs, merchants, and processors with channel distribution through Mastercard's Partner Advantage Program and Network Enablement Partners. Customer segments span banks and credit unions, lenders and fintech companies (primary), merchants and processors, small business platforms, and wealth and investment providers, addressed through a horizontal segmentation strategy. Pricing is quote-based with custom contracts varying by call volume, data type, and use case; no public rate cards are disclosed.
Since its 2020 acquisition by Mastercard, Finicity operates as a wholly-owned subsidiary within Mastercard's Open Finance and Banking Solutions division, inheriting global distribution through Mastercard's payments network and enterprise relationships. The company employs 501-1,000 people and was founded in 1999 in Salt Lake City, Utah. Finicity was previously backed by Experian as a lead investor and has historically raised approximately $80M in equity across funding rounds from 2008 through 2018.
Finicity firmographics
Firmographics- Name
- Finicity
- Legal name
- Finicity
- Website
- https://finicity.com
- Company type
- Private
- Founded year
- 1999
- Operating status
- Acquired
- Headcount range
- 501–1,000 employees
- Short description
- Finicity provides open banking API infrastructure for consumer-permissioned financial data aggregation, account verification, payment initiation, and credit decisioning. Operating as a Mastercard subsidiary, the platform connects 10,000+ financial institutions and processes 15 billion+ API calls annually across US, Europe, and Australia.
- Ownership category
- akta.pro rank
Finicity industry classification
Industry- Product category
- Open Banking Infrastructure
- NAICS
- Credit Bureaus (561450), Activities Related to Credit Intermediation (5223)
- SIC
- Services-Consumer Credit Reporting, Collection Agencies (7320)
- akta.pro primary industry
- Account Aggregation & Connectivity (Multi-bank linking) (FSAGACAA)
- akta.pro secondary industries
- Open Banking, Account Aggregation & Payment Initiation APIs (BPAMAFAJ), Account Verification & Ownership (AVS/AOV, micro-deposits, auth) (FSAGACAB), Transaction Analytics & Cash-Flow Insights (risk signals, forecasting) (FSAGACAG), Alternative Data & Credit Scoring (Cashflow, Telco, Utility, Open Banking) (FSAGAHAC)
Keywords
Where Finicity is headquartered
LocationHeadquarters
- HQ city
- Salt Lake City
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Finicity business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- API Data Services: Revenue generated from API calls and data access services powering financial data aggregation, account verification, and enrichment for financial institutions, fintech applications, and merchants.
- Credit Decisioning Solutions: Licensing and usage fees for Finicity Lend credit decisioning tools that provide lenders access to consumer-permissioned financial data for underwriting and risk assessment.
- Open Banking Platform Services: Revenue from powering open banking platforms like Experian Boost, where Finicity processes consumer financial data in seconds to enable credit score improvements and financial profile enrichment.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Multi-year contract | Enterprise API access with custom pricing |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
Finicity product offering
Product offeringCore offering
Finicity provides an open banking API platform enabling secure, consumer-permissioned financial data aggregation, account ownership verification, payment initiation, and credit decisioning for banks, lenders, fintechs, merchants, and processors. The platform processes consumer financial data in real time to power use cases including digital onboarding, lending underwriting, cash-flow analytics, and consumer credit improvement through partner products such as Experian Boost and UltraFICO Score.
Product overview
Finicity, a Mastercard company, provides open banking solutions through its API platform. The core product is Finicity Lend, which offers credit-decisioning tools for banks, lenders, and fintech developers. Finicity also enables partner products including Experian Boost and the UltraFICO Score, which leverage its open banking infrastructure to process financial data for credit score improvement. The platform connects to 95% of U.S. deposit accounts and processes over 15 billion API calls annually globally.
Differentiator
Problem solved
Functional benefit
Brands
- Finicity Lend: Integrated solution set providing banks, lenders, and fintech developers access to credit-decisioning tools using consumer-permissioned financial data.
Products and services
- Finicity Lend An integrated solution set providing banks, lenders, and fintech developers access to credit-decisioning tools that use consumer-permissioned financial data to improve lending accuracy and inclusivity for underserved and thin-file borrowers.
- Mastercard Open Finance API Platform Open banking API platform enabling secure, consumer-permissioned data aggregation across 95% of US deposit accounts, nearly 3,000 European banks, and all Australian banks, supporting use cases in account verification, payment initiation, cash-flow analytics, and credit decisioning for financial institutions, fintechs, merchants, and processors.
Quantifiable outcome
- 26% increase in funding conversion rates for investment account top-up payments
- +3 more outcomes
Companies that use Finicity
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles4 records
Finicity technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature6 records
Finicity partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and flagship.
- ExperiancoreExperian Boost leverages Finicity's open banking platform to process consumer payment data from utilities, phone bills, and streaming services, enabling over 6 million consumers to improve credit scores by adding more than 50 million points collectively. Finicity's analytics identifies boost-relevant data streams for users more than 65% of the time.
- Nova CreditcoreNova Credit leverages open banking and data partnerships to improve credit access for immigrants and underserved Americans through products like Credit Passport and Cash Atlas, utilizing financial data analytics for more inclusive creditworthiness assessment.
- FICOcoreThe UltraFICO Score partnership combines Finicity's consumer-permissioned banking data (checking, savings, money market accounts) with FICO's credit scoring expertise to improve credit access for consumers in the upper 500s to lower 600s credit range, those with limited credit history, or recovering from financial distress.
- WorldpaycoreWorldpay, a leading merchant solutions provider, utilizes Mastercard's open banking platform (Finicity) in the U.S. for secure account verification, offering customers better payment options and advancing open banking globally.
- Saxo BankflagshipSaxo Bank achieved a 26% increase in funding conversion rates for investment account top-up payments after implementing Mastercard Open Banking (Finicity) solutions for seamless account-to-account payments.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
Finicity competitors and assessment
Company assessmentRegional players
- TrueLayer: TrueLayer is a U.K./European open banking platform providing account connectivity, variable recurring payments, and payment initiation APIs to fintechs and merchants — overlapping with Finicity in Europe but not directly competing in the U.S.
- Flinks: Flinks is a Canadian-headquartered open banking and financial data connectivity provider serving North American fintechs and lenders, with overlapping account aggregation and verification functionality.
Emerging players
- Akoya: Akoya is a bank-owned, FDX-aligned data access network enabling secure consumer-permissioned financial data sharing, offering an alternative to commercial aggregators like Finicity for institutions preferring a bank-governed model.
- Nova Credit: Nova Credit translates international credit and open banking data into U.S.-equivalent scores for immigrants and underserved consumers, leveraging similar consumer-permissioned financial data flows as Finicity for inclusive underwriting.
Direct peers
- Plaid: Plaid is the leading U.S. open banking and financial data aggregation platform, offering account connectivity, identity verification, and payment initiation APIs to banks, fintechs, and lenders — directly competing with Finicity across nearly every use case.
- MX Technologies: MX provides data aggregation, connectivity, and financial data intelligence for financial institutions and fintechs, with comparable products in account aggregation, cash-flow analytics, and lending decisioning.
- Envestnet Yodlee: Yodlee is a long-standing financial data aggregation platform serving banks, lenders, and wealth managers with similar account connectivity, data enrichment, and analytics capabilities as Finicity.
Others
- Experian: Experian is a core partner that distributes Finicity's data via Experian Boost, but it also operates competing consumer credit data, analytics, and decisioning products — making it both a partner and an adjacent competitor in credit-data monetization.
Broad incumbents
- Visa (Open Banking / Pismo): Visa, through its open banking initiatives and Pismo acquisition, offers account-to-account payments, connectivity, and financial data capabilities that compete with Finicity's payment initiation and aggregation features as part of a broader payments portfolio.
- FIS (FIS Open Banking): FIS provides open banking and financial data connectivity solutions to banks and fintechs as part of its broader core banking and payments technology portfolio, offering overlapping capabilities to Finicity across U.S. and European markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Finicity social profiles
Digital presenceFinicity financial estimates
Financial estimateRevenue estimate
Valuation estimate
Finicity leadership team
Management profileNumber of profiles
Profiles3 records
Finicity funding detail
Funding detailFunding overview
Funding rounds4 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Finicity M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Finicity
What does Finicity do?
Finicity provides an open banking API platform enabling secure, consumer-permissioned financial data aggregation, account ownership verification, payment initiation, and credit decisioning for banks, lenders, fintechs, merchants, and processors. The platform processes consumer financial data in real time to power use cases including digital onboarding, lending underwriting, cash-flow analytics, and consumer credit improvement through partner products such as Experian Boost and UltraFICO Score.
Is Finicity a public or private company?
Finicity is a private company. It is classified as corporate owned and is currently acquired.
When was Finicity founded?
Finicity was founded in 1999. It employs 501 to 1,000 people.
Where is Finicity based?
Finicity is headquartered in Salt Lake City, United States, in the North America region.
How does Finicity make money?
Three revenue lines are on record. API Data Services are the primary driver. The others are credit Decisioning Solutions and open Banking Platform Services.
Who are Finicity's main competitors?
Regional players on record are TrueLayer and Flinks. Emerging players are Akoya and Nova Credit. Direct peers are Plaid, MX Technologies and Envestnet Yodlee. Experian is listed as an others. Broad incumbents are Visa (Open Banking / Pismo) and FIS (FIS Open Banking).
Does Finicity have an API?
Yes. Mastercard Open Finance (including Finicity) provides secure APIs enabling financial data access. 95% of U.S. deposit accounts, all Australian banks and nearly 3,000 European banks connect to the APIs. 15 billion+ API calls are serviced globally each year. Integration is enabled through a scalable API platform with modular framework across supported markets. Developer-focused tools, sandbox environments and configuration options allow embedding open finance capabilities. Developer documentation is at www.mastercard.com/us/en/business/open-finance/developer.html.
What industry is Finicity in?
Finicity's product category is Open Banking Infrastructure. Its primary akta.pro industry code is FSAGACAA, Account Aggregation & Connectivity (Multi-bank linking), with a secondary code of BPAMAFAJ, Open Banking, Account Aggregation & Payment Initiation APIs. Its NAICS code is 561450 and its SIC code is 7320.