Source: Financial Apps
Financial Apps, a provider of technology that facilitates access to and management of financial data, is launching its new platform, which includes API access and a Relevancy Engine, at FinDEVr in San Francisco Oct. 1, 2014.
The platform enables financial organizations to shorten the development cycles for new products, such as PFM products and fraud detection tools, from months to weeks, while keeping solutions nimble enough to quickly adjust to market changes.
“Our new platform that combines improved API access and the Relevancy Engine provides users a flexible tool to manage the wealth of data that financial organizations have on-hand,” said Bob Sullivan, founder and president of Financial Apps. “From product development to marketing campaigns, harnessing data is pivotal to an organization’s success. Financial Apps has created a platform that drastically decreases development times and costs, enabling institutions to get their innovations out to the market faster and more efficiently. That is paramount in today’s competitive banking environment.”
Financial Apps’ new REST/JSON API allows developers to connect to a data aggregation partner more quickly, with fewer resources and at a lower cost, as well as provide clean data that is already refactored and normalized. Financial Apps’ API consolidates multiple endpoints into concise calls, greatly simplifying the integration process. The company also provides quick easy connectivity to financial data aggregation from more than 15,000 financial institutions.
The Relevancy Engine is a data structuring and product development tool that transforms complex financial data into actionable data. With the Relevancy Engine, developers have a flexible tool to quickly restructure, transform and normalize their data into multiple new datasets for their financial applications, as well as perform complex queries and analysis across all datasets to create unique alerts for notifications and marketing. The automation of these steps can shorten development time on new product functionality by up to 75 percent.
In addition, the Relevancy Engine makes it possible for institutions to actually leverage the data they have to strengthen marketing efforts, providing users the ability to take a targeted, omni-channel approach that increases the success rate and lowers marketing costs. Users can create rules to push offers using very specific account holder segments.