Unlocking Financial Connectivity: Wealthica Launches Canada's Most Comprehensive Financial API

MONTREAL, Jan. 12, 2024 /CNW/ - Wealthica, the leading Canadian wealth tracker, announces a significant milestone in its commitment to revolutionize the financial technology landscape. With an expansive network connecting over 150 Canadian financial institutions and brokerages, Wealthica proudly exposes its wealth and bank API, inviting fintechs, financial institutions, consumer apps, and portfolio management systems to seamlessly integrate and enhance their services.

"At Wealthica, we understand the power of financial connectivity, and our financial API launch marks a pivotal moment for the Canadian fintech ecosystem," said Jeff Matte, Managing Director at Wealthica Business Solutions. "By opening our bank API to external partners, we aim to foster innovation, streamline processes, and boost a new wave of financial solutions tailored to the unique needs of the Canadian market."

Key Features of Wealthica's Wealth & Bank API:

1. Comprehensive Financial Institution Connectivity:  Get access to a vast network of over 150 Canadian financial institutions and brokerages, offering unparalleled coverage and reliability.
   
   
2. Daily Update Data Integration:  Leverage regularly updated data from multiple sources for accuracy and timeliness in portfolio management and financial planning.
   
   
3. Secure and Compliant:  Wealthica, which is SOC 2 Type II certified, places utmost importance on Wealthica's data security and compliance. The bank API is designed with robust security measures to safeguard sensitive financial information.
   
   
4. Customizable Solutions:  Tailor the Wealthica financial API to meet the unique needs of fintechs, consumer apps, or portfolio management systems for a flexible and scalable solution.

Most Popular Use Cases:

1. For Budgeting and Wealth Tracking Tools: Asset Aggregation
   
   The retail bank API facilitates data synchronization for Canadians, ensuring that users have accurate and up-to-date information for more effective budgeting and wealth management. In light of the discontinuation of Intuit Mint, demand for Mint Alternatives is high, and there emerges a heightened demand for sophisticated budgeting tools within the Canadian market.
   
   
2. Streamlining Account Transfers between Financial Institutions
   
   The headache of transferring registered accounts between external institutions is a common pain point in the financial industry.  Wealthica's bank API can be used to retrieve client's account numbers, positions, balances, securities, and other relevant details. This not only minimizes the complexity associated with account transfers but also enhances the overall client experience, reducing the likelihood of abandoned transfers and increasing Assets Under Management (AUM).
   
   
3. Crypto Investment Aggregation through Vezgo API
   
   Wealthica's wealth and bank API extends its functionality to the dynamic world of cryptocurrency investment through integration with the Vezgo API. This empowers users to aggregate and manage their crypto holdings alongside traditional financial assets from over 100 Bank API sources.
   
   
4. Cost Basis Across Several Investment Platforms
   
   The Wealthica financial API offers a solution to the complex task of calculating cost basis across diverse investment platforms. Financial tools and platforms can access accurate and standardized cost basis information for investments.

How to Get Started:

Interested parties can access Wealthica's Financial API documentation and developer resources, and find the list of integrations of the  Bank API.

To receive your trial API Keys and partnership opportunities, contact the sales team at [email protected].

About Wealthica:

With over 50,000 Canadian users and $33B in aggregated assets, Wealthica is the largest Canadian wealth tracker, dedicated to simplifying financial management. With a robust network connecting over 150 financial institutions and brokerages, Wealthica provides comprehensive insights into investment portfolios, empowering users to make informed financial decisions.

Wealthica Business Solutions

SOURCE Wealthica Financial Technology Inc.

For media inquiries, please contact Jeff Matte, [email protected]