Portfolio company Quovo has become the first US-based financial account data provider to join the Open Banking directory - which is regulated by the FCA but applicable across all European Economic Area (EEA) states. This enables Quovo to enable account connectivity and data insights to fintech companies and FIs across the UK and Europe.
“Giving consumers the ability to access and control financial data is a critical component of Open Banking, and Quovo’s connectivity facilitates that access. Unlike many other RAISPs, Quovo is uniquely positioned between consumers, fintech apps, and financial institutions,” said Lowell Putnam, CEO and Co-founder of Quovo... Quovo retrieves customers’ financial account data, including account balances, holdings and transactions, cash flow patterns, and account holder details, to provide a holistic view of their finances. Our platform can access customer financial data at all banks with Open Banking-compliant APIs, which include those of the CMA9 (Santander, Royal Bank of Scotland Group, Lloyds Banking Group, HSBC, Barclays, Allied Irish Bank, Bank of Ireland, Danske, and Nationwide Building Society) and UK-based challenger banks, Starling and Monzo.