Open Access Connectivity
Open Access provides a secure and streamlined way for Business Online Banking to connect their third-party financial management applications with several prominent account aggregators.
Plaid
MX
Stripe
Intuit
Mastercard + Finicity
Envestnet Yodlee
Morningstar
Currently, users connecting to these aggregators do so through a process known as “screen scraping,” where the aggregator logs in to a customer's online bank account using the credentials users have provided. With Open Access, a direct API connection is added between the various aggregators and Business Online Banking.
What to Expect
Aggregator Transition:
The timing for each aggregator varies, though it typically occurs within 30 to 60 days. Once the aggregator has transitioned your Business Online Banking connection, you will be prompted to reauthenticate. The process will include entering your Business Online Banking credentials, receiving and entering a one-time code, consenting to the aggregator’s disclosure and selecting the accounts you wish to share (see sample screenshots for Plaid below).
Step 1
Enter your Business Online Banking credentials
Step 2
You will be prompted to reauthenticate. The process will include entering your Business Online Banking credentials, receiving and entering a one-time code
Step 3
You will be asked to consent to the aggregator's disclosure and select the accounts you wish to share
Company User Access
Open Access is a new entitlement that will be added to your company’s profile. The Primary Administrator for your company will be automatically enabled for the service; however, additional users must be granted access.
To update a user’s entitlement, navigate to Administration > Company Administration and select the user to update. Click the “Edit” icon next to Services & Accounts, scroll to Open Access and click the “Plus sign” icon. Click the Save Changes button at the bottom of the page to confirm the change. Note – users must also be entitled to Information Reporting as a requirement for Open Access.
For questions or assistance, please contact your Private Banking Officer or Treasury Management at 310.270.9559.