Financial data aggregation has existed for decades, though many financial institutions still don't use it. In one sense, this is understandable. The problems with aggregation have historically been numerous, and in certain cases those problems still occasionally surface. However, because financial data aggregation enables users to see all of their accounts in one place, it's among the single best methods an institution can use to become their users' primary financial hub. Users want to log in, see all their finances in a single view, and log out.
In this piece, we list all the financial data aggregators in the United States. We start with MX for obvious reasons, but we partner with and recommend many of the companies below and hope that you will implement financial data aggregation regardless of who you choose to work with.
Founded in 2010, MX aggregates data for our clients using multiple account aggregators, which gives us the ability to switch connections in the event that one becomes deficient. This means we can give users consistent access to their own data. In addition, we have hundreds of direct connections via partnerships as well as OFX, CUFX, DDA/OAUTH, etc. MX has 1,700+ signed clients and $70+ million in funding.
Finicity started with a focus on money management and evolved to give special attention to account aggregation. Founded in 1999, they have nearly two decades of experience on this front.
CashEdge was also founded in 1999 and was acquired by Fiserv in 2011. According to the Fiserv site, CashEdge now offers "account-to-account transfer, account opening and funding, data aggregation, small business payments and personal payment services."
ByAllAccounts is Morningstar's aggregation service. Also founded in 1999, ByAllAccounts focuses primarily on investment data and works with advisory firms.
Envestnet / Yodlee
Yodlee was founded in 1999 and purchased by Envestnet in 2015. They offer data aggregation, with a focus on investment data — particularly after Envestnet purchased them.
Plaid was founded in 2013. At launch, they aimed to be a money management tool but have since pivoted to help financial institutions aggregate data. Plaid has raised $59.3 million in funding.
Quovo offers an API management toolkit that helps their clients connect to financial data. The company is young, but already works with leading fintech companies such as Betterment, Wealthfront, and SoFi.
Intuit stopped offering their account aggregation services to third parties in 2016.
Again, we hope you will choose to partner with a financial data aggregator regardless of who you choose to work with. It's perhaps the single best way to become the primary financial institution for your users — a place where they can see all their finances together.
To read more about account aggregation from MX, see our account aggregation and transaction cleansing page.