Canadian wealth tracker fintech is inviting external partners to leverage its tech
A leading Canadian fintech has hailed a milestone in revolutionizing the industry by opening up its technology to both financial and non-financial external partners.
Montreal based wealth tracker Wealthica says that it wants firms including fintechs, financial institutions, consumer apps, and portfolio management systems to access its wealth and bank API to enhance their own services.
Through seamless integration, partners will access the firm’s network of more than 150 Canadian FIs and brokerages, be able to leverage daily updated data from multiple sources, and tailor the solution to meet their own needs. Security and compliance is treated with the highest importance.
"At Wealthica, we understand the power of financial connectivity, and our financial API launch marks a pivotal moment for the Canadian fintech ecosystem," said Jeff Matte, managing director at Wealthica Business Solutions. "By opening our bank API to external partners, we aim to foster innovation, streamline processes, and boost a new wave of financial solutions tailored to the unique needs of the Canadian market."
The firm says that among the most common uses for its API will be to power sophisticated budgeting and wealth tracking tools, streamlining account transfers between FIs, crypto investment aggregation (through its Vezgo API integration), and calculating cost basis across diverse investment platforms.
Wealthica was founded in 2015 and boasts over 50,000 Canadian users and $33 billion in aggregated assets. Its leadership team includes former Desjardins executive Eric Lemieux who joined the firm in 2020 and is chief financial officer and also one of its investors.
