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Capital One and Clarity Money Announce Data Sharing AgreementMCLEAN, Va., Dec. 5, 2017 /PRNewswire/ -- Capital One Financial Corporation (NYSE: COF) today announced an agreement with Clarity Money allowing Capital One customers to more securely import their financial data to Clarity Money without sharing login credentials. The agreement allows Capital One customers to benefit from Clarity Money's personal financial management tools powered by the latest innovations in machine learning, data science, and artificial intelligence. The agreement with Clarity Money utilizes Capital One's application-programming interface (API) enabling customers to directly connect their Capital One account data with Clarity Money's services. Aligned with the Consumer Financial Protection Bureau's recently released principles for protecting consumer-authorized financial data sharing, Capital One's API provides transparency and helps consumers share their financial data with trusted third parties in a way that is within the consumer's control. "We know that many of our customers rely on financial tools, and they want companies to have access to the account information necessary to power these tools. The agreement with Clarity Money helps achieve that goal in a way that is secure, transparent and under the customer's control," said Becky Heironimus, Vice President of Enterprise Digital Products and Data Connections at Capital One. "We look forward to building on this relationship to offer users new ways to share their data and importantly, to continue enhancing the customer experience." "At Clarity Money, we're committed to acting as a true financial advocate for our users, equipping them with the tools to better manage their finances," said Colin Kennedy, Chief Revenue Officer at Clarity Money. "This agreement with Capital One allows our mutual customers to share their data in a simplified and more secure manner, better enabling them to focus on what's important - etting the most out of their money." Through the direct data-sharing API partnership, mutual customers of the two companies will benefit from access to accurate and stable data, and increased transparency and control over how, when and with whom they choose to share their Capital One financial data. Shared customers will be empowered to better manage daily bank reconciliation activities and cash flow – and ultimately make smarter decisions fueled by a more comprehensive and accurate feed of financial data. Capital One's Customer Transactions API leverages oAuth capabilities to provide Clarity Money with tokenized authorization to access account information upon a customer's request, without requiring customers to directly enter their login credentials with a third party. The integration gives Capital One customers more control over the financial data they choose to share. About Capital One Capital One launched its Customer Transactions Application Programming Interface (API) in 2017, providing its customers with the ability to more safely and securely share their transaction data with participating third party organizations that they trust. As of December 2017, Capital One has executed contracts for its Customer Transactions API with Intuit Inc., Abacus, Clarity Money, Expensify, and Xero. Visit the Capital One newsroom for more Capital One news. About Clarity Money View original content with multimedia:http://www.prnewswire.com/news-releases/capital-one-and-clarity-money-announce-data-sharing-agreement-300566468.html SOURCE Capital One Financial Corporation |