Connections to major banks in your Client Portal typically need to be validated every three months or whenever you update your password.
This can require you to spend time reestablishing your bank connection before you can manage your transactions.
Transitioning to a new API-based data aggregation connection will allow for a more sustainable connection.
Unlike traditional aggregation methods, APIs do not rely on your username and password for access. They're built in partnership with your financial institutions and create a secure and reliable channel for transporting financial data
Reconnecting via the new API, takes just a few steps to complete.
Each bank process to establish an API-based, data aggregation, connection can vary but will follow basic process where you approve the connection to your bank.
Bank of America accounts are now available and eMoney Bank of America API Transition Example will complete the transition:
That's it! Once you authorize access, the connection will reconnect to your existing accounts through the API.
The financial technology industry is finding new ways to minimize risk when aggregating data. For many, this means adopting a more secure method of aggregating data through APIs. APIs are built in partnership with your financial institutions and create a secure and reliable channel for transporting financial data.
Though your eMoney Client Portal already employs rigorous data security practices beyond most industry standards, we're always looking for ways to continue to reduce risk. eMoney is leading the charge in adapting API-based aggregation.
For more information on what APIs are and why they're important, check out this article eMoney Data Aggregation 101: What You Need to Know.
If you ever get stuck, contact Jennifer for expert help!
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