Xtensifi adds open banking consulting as a service for FIs, FinTech firms

Xtensifi, a digital consulting and development firm that enables financial institutions and FinTech providers to create and execute their mobile and online strategies, has announced its new open banking consulting service for both financial institutions and financial technology firms.

Xtensifi enables banks and credit unions to be the primary hub for when and where consumers authorize their data. With intellectual property and core competencies around back-end integration and API development, Xtensifi helps mitigate problems with existing permission-based methodologies that often causes valuable customer and member data to go unused for years.

Xtensifi helps to facilitate legal, fully-compliant connections between fintech firms and financial institutions. With decades of experience in the financial services industry and a deep understanding of how to communicate effectively with FIs, the firm has proven experience in helping fintechs better market – and integrate — their products to these organizations.

“We are empowering financial institutions with a more secure way to enable the sharing of permissioned customer data without increasing the risk of breaches,” said Doug Bacon, Managing Director at Xtensifi. “Consumers and small businesses now have greater control over their data and benefit from the trust in their bank or credit union to keep their financial information safer.”