Mastercard Extends Open Banking Efforts with Close of Finicity Acquisition

Mastercard (NYSE: MA) today announced it has completed its acquisition of Finicity, a leading North American provider of real-time access to financial data and insights.

“Today is a great milestone as we continue to build out the solutions that deliver on the potential of open banking,” said Craig Vosburg, president, North America, Mastercard. “We now turn our focus on bringing these two talented teams together. That starts with our shared commitment to consumer-centric data practices to create more value for consumers and businesses from the information in their account and give them more control in how that data is used.”

With a direct connection to the North American banking, lending and wealth management ecosystem, Finicity adds to Mastercard’s commitment to be a one-stop partner for banks, merchants, fintechs and governments. These connections are supported through next generation open banking APIs and clear consumer approvals, both best-in-class data management practices.