Truist Financial Corporation (NYSE: TFC) today introduced its first open banking integration, connecting first to Mastercard’s open finance technology. The API-based platform provides Truist consumer and small business clients with secure, centralized access to their financial data—unlocking transparency, personalization and control across a growing ecosystem of trusted fintech apps.
These clients can now seamlessly connect to the apps of their choice through direct connections to Mastercard’s open finance platform. This experience offers clients secure, tokenized access to manage which applications can view their financial data and for what purpose, without sharing usernames or passwords.
“Open banking digitally empowers Truist clients and small business owners with secure, personalized experiences and a more holistic view of their financial lives,” said Truist Head of Digital, Client Experience and Marketing Sherry Graziano. “This platform provides more secure data sharing, new pathways for those with limited credit histories, more choices for how to pay and get paid, and better insight into overall financial health, all with the safeguards our clients expect.”
Truist has selected Mastercard as its first direct API integration, ensuring that Truist clients have access to trusted and secure data-driven experiences of their choice through Mastercard’s industry-leading API connectivity.
“Secure, convenient financial experiences are a gamechanger–but trust is the critical ingredient to ensuring clients and businesses can tap into their full potential,” said Executive Vice President, Open Finance, Americas at Mastercard Bart Willaert. “With our shared values of trust and security, we are delighted to offer the clients and small businesses Truist serves seamless connections to all that open banking has to offer.”
