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US Investment Data and Open Banking Ecosystems

ByAllAccounts delivers reliable and secure access to high-quality wealth management data, ready to power the needs of wealthtechs and their clients.

For 25 years, ByAllAccounts has been dedicated to providing exceptional financial data. Our wealth data aggregation service plays a vital role in gaining a comprehensive understanding of an investor's financial status and habits. With reliable access to this precise and complete data, advisors can personalize recommendations for improved client outcomes and efficiently manage their practices.

The Latest Developments in Open Banking Regulation and Standards

The regulatory landscapes for digital financial data availability and safeguards are rapidly evolving, as are the standards underpinning these connected ecosystems. At the same time, there is new attention paid to regulations and standards for investment advisors and the advice they provide.


The Personal Financial Data Rights Rule, enacting Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, shouldn’t immediately affect the investment data ecosystem. The rule only covers certain types of retail banking accounts, such as checking, savings, and credit card accounts, with the commitment to later expansion. While some financial data providers not directly covered by the Act are making commercially backed APIs available to aggregators, the vast majority of custodians, recordkeepers and annuity providers haven’t embraced this new method of access.


Until they do, ByAllAccounts will continue to leverage the best available data access methods for each institution, while continuing to advocate for the interests of investors and the professionals who serve them with policymakers, regulators, and industry groups. Read the comment letter we submitted to the CFPB ahead of their final Rule regarding personal financial data rights.

Why Financial Data Sharing Matters

Effective financial advice depends on the quality and timeliness of the data that it’s based on. Advisors need reliable and seamless access to this data. The investment data, retirement, and Open Banking ecosystems are therefore vital to investors, financial advisors, and the technology platforms that serve them.


Today’s direct connections can provide reliable data access for positive client outcomes and back-office efficiencies. To fulfill their fiduciary role to act in their clients’ best interests, advisors must understand their clients’ comprehensive financial situation in order to offer personalized financial guidance. To do this, they need access to high-quality data.

Access the Highest Quality Wealth Management Data in the US Financial Data Ecosystem

ByAllAccounts is an essential partner in delivering the top-quality financial data to drive your investment-related initiatives. As a prominent participant in the rapidly changing investment data and Open Banking ecosystems, ByAllAccounts is committed to enhancing the connection between investors and their financial advisors.


Advisors can get secure, compliant, and reliable access to clients’ custodial and external accounts, all while allowing investors to retain precise control over their financial data throughout the entire process.

Reliable access to investment data

Advisors need a complete understanding of their clients’ financial situation to fulfill their fiduciary duties and serve clients with personalized, compliant, and actionable financial guidance. To achieve this, they need access to high-quality data and dependable data connections.

We aim to create the largest network of connections to the data sources that our customers depend on. Open Banking is one method, but not the only one—our data strategy uses many ways to achieve this goal.

Greater transparency and reduced risk

In an environment of fragmented regulation and standards, Open Banking minimizes risk by establishing standards and collaboration among key players in the data ecosystem.

Advisors will no longer need to store client credentials or with their aggregator. Investors will be able to manage consent to their financial data, further reducing risk. This prevents unauthorized sharing of user credentials and safeguards against data theft, identity fraud, and other security threats. With ByAllAccounts, investors have greater transparency and more granular control over use of their data.

Industry advocacy and partnership

Trust between an investor and their advisor is especially important. For 25 years, ByAllAccounts has been a champion for both investors and advisors.

ByAllAccounts is involved with policymakers, industry groups, and regulators to further Open Banking. We’ll continue to make available the data elements for wealth management use cases through our data access strategies. Consider us your essential partner.

High standards for privacy and security

Integrity is a crucial component of providing financial advice. At ByAllAccounts, we prioritize security and privacy and follow industry-leading financial practices. Our data is encrypted while at rest and in transit, and we comply with applicable laws for privacy and consumer protection. 

As a service provider to many clients that are regulated by the US Securities and Exchange Commission and Financial Industry Regulatory Authority, we maintain the highest standards of third-party risk management in the highly regulated financial industry. 

Resources

See All Resources

Strengthening Advisor-Client Relationships and Outcomes with Secure Data Sharing

Take Your Organization to the Next Level with the Power of Data Aggregation

Hopes and Limitations of Consumer Data Services in the US

Designing Open Banking Experiences for Delegated Access

Connect With an Aggregation Specialist

See how high-quality aggregated data can power great financial advice.