Intuit Developer Group has decided to discontinue its Financial Services APIs (CAD), which provide financial account aggregation services to a number of third parties. Writing at Intuit’s developer page, Head of Financial Data Services Emily Silberstein explained that the service “no longer fits with our core growth strategy.”
“As of today (March 15, 2016), no new direct financial data API (CAD) developers will be allowed to move into production,” she wrote. The API will be maintained until November 15 to accommodate developers currently in production. Silberstein added that Intuit was partnering with Finicity which “will provide a façade API interface that translates Intuit-structured API calls into Finicity-structured API calls.”
Pictured: Intuit Developer Group’s Head of Financial Data Services, Emily Silberstein, during her presentation at FinDEVr 2015 in San Francisco.
Over at Finicity, the company has already rolled out the welcome mat. Finicity assures newcomers that its APIs “have the same origins and Intuit’s” and that “our teams are doing all the hard work to make sure our new ‘Façade’ API is a true replica of Intuit’s API, so you don’t have to do another integration.” Developers can sign up to test drive the API at Finicity’s developer portal. The company is also offering two months of free service for developers who migrate to the Intuit façade API or Finicity’s API before July 15.
Making its Finovate debut at FinovateSpring 2015 in San Jose, Finicity was founded in 1999 and is headquartered in Salt Lake City, Utah. A provider of API services for account aggregation, cash-flow verification, and account-ownership verification, Finicity is the maker of the TxPUSH API for Fintech Apps, which makes it easier for developers to use the Finicity API platform to receive account and transaction data instantly.
Intuit Developer Group demonstrated its Transactions and Identification APIs at FinDEVr 2015 in San Francisco last fall. In January, the company tapped Vinay Pai to be head of the developer team, and in February, the Group celebrated the 15th anniversary of the launch of the Intuit Developer Network and the release of the first QuickBooks API.
The decision by Intuit Developer Group leaves Finicity, Envestnet | Yodlee, and FinDEVr alum, Plaid, as the remaining few major firms providing financial account-aggregation services in the United States. Yodlee, acquired by Envestnet last August, released a simplified, more intuitive RESTful API architecture in February. The Redwood City, California-based company presented its financial data platform and rapid development kit at FinDEVr 2015.