US banking group Wells Fargo has signed agreements with Expensify and PointServe to share its customer information with the two fintech firms using an application programming interface (API)-based method.
Expensify, which is based in San Francisco, offers business automated expense reporting and receipt management solutions. The pact with Expensify will allow Wells Fargo credit card holders using Expensify to report monthly business expenses using an API.
California-based PointServ offers loan application processing services to mortgage lenders, bankers, and financial institutions. Under the agreement with PointServ, Wells Fargo API will send required customer documents to PointServ when the bank’s customers apply for a loan with a mortgage company that uses PointServ software.
Wells Fargo virtual channels head of digital Brett Pitts said: “In the last two years, we’ve made tremendous progress in identifying more secure and efficient ways of sharing data and these agreements with Expensify and PointServ demonstrate why API-driven solutions continue to grow.”