Intuit is announcing today the availability of a new API that will give third-party developers access to the financial data service that powers Quicken, QuickBooks, Mint.com, and FinanceWorks. Basically, Intuit is allowing developers to tap into transaction information from 19,000 financial institutions, autocategorize this data, and embed it into applications.
While the Intuit Partner Platform already offers third-party developers access to QuickBooks data, this new financial data service will allow third-party technology providers to offer their customers access to their own financial data from thousands of sources of personal and business banking, brokerage, and investment accounts in the U.S and Canada. Intuit says that developers can use this data to track customer insights and support automated delivery of targeted guidance and offers based on the customer’s unique financial situation.
For example, SaveUp, a free rewards game for saving money and reducing debt, is using the API and aggregating financial information from users who opted into its program. The API will be available on a limited basis in October through the Intuit Partner Platform, with wider availability in December.