Intuit opens financial data service APIs to developers

By Thor Olavsrud , CIO |  Software, accounting software, intuit

"We're then able to use this information to track our customers' smart financial actions and reward them accordingly," Haji says. "This data service has helped us build a better tool to help people save more and have fun while doing it. To date, more than $100 million in savings and $90 million in debt payments have been registered in SaveUp from financial institutions across the U.S."

SaveUp uses the SOAP-based APIs provided by Intuit to connect to Intuit's backend financial data service. Shreibati notes that when users log on to SaveUp, it passes their credentials through the API to Intuit.

"We let Intuit deal with it," he says.

Shreibati adds that two engineers were able to prototype the service in about a month, and it was production-ready in about two months.

While Intuit is striving to make leveraging its APIs as simple as possible for developers, there will be a few hoops to jump through.

"We need to make sure that this is done in a careful, secure and legally compliant way," Grossman says. "Part of the signup process and the ongoing relation with the developer involves a bit of scrutiny of the developer. There's a fairly rigorous screening that they have to go through to show they're a responsible partner and will be leveraging this data responsibly."

"For all of our partners we go through security checks inside the application and work with the partner to make sure that holes they may not have even known about are closed up," adds Alex Chriss, director of the Intuit Partner Platform.

Intuit will make the APIs to its financial data service available on a limited basis through the Intuit Partner Platform in October, with wider availability coming in December.

Thor Olavsrud covers IT Security, Big Data, Open Source, Microsoft Tools and Servers for CIO.com. Follow Thor on Twitter @ThorOlavsrud. Follow everything from CIO.com on Twitter @CIOonline and on Facebook. Email Thor at tolavsrud@cio.com

Read more about finance in CIO's Finance Drilldown.


Originally published on CIO |  Click here to read the original story.
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