What is Fidelity Access℠?

5 Responses to “What is Fidelity Access℠?”

  1. Rich November 15, 2017 12:48 pm

    Thank you for the update! There really needs to be an open source solution for everyone to benefit from account aggregation so the aggregation solutions don’t have to account for every single API that starts to get rolled out.. But I don’t know if that is realistic. If one was to make lots of money from this opportunity, they might look to retain control of the technology, do it right, and get quick adoption. Or.. perhaps come up with their own aggregation solution to compete with the others. Let’s see :- )

    • Bill Winterberg November 15, 2017 1:10 pm

      Arguably, today the aggregators that use online credentials and screen scraping already maintain thousands of custom interfaces for all the different institutions and websites out there. At least the number of interfaces *could* be reduced as there is likely to be some consolidation around data delivery via APIs. That way, simple changes to websites or login protocols won’t break aggregation as it does today since changes in APIs are communicated to participants and deliberate in support (or deprecation) of backwards compatibility and future upgrades.

      I’m afraid that one open source standard governing all account aggregation is nearly impossible, given the competing interests and stakes of the various incumbent financial institutions.

      Thanks for the comment!

  2. DeDe November 15, 2017 3:30 pm

    EMoney sent out an email announcing the API. So they are certainly on board.

    • Bill Winterberg November 15, 2017 4:36 pm

      DeDe, thank you for the heads up, I updated the copy in the post above to reflect eMoney Advisor’s adoption of Fidelity Access℠

  3. J.R. Robinson November 18, 2017 10:19 pm

    While the API itself sounds like a step forward for account aggregation, it is largely a non-event for most eMoney subscribers. A major complaint among advisors and their clients is that connections between eMoney and financial institutions, such as banks and credit unions, are unstable and drop frequently. Clients get frustrated and irritated when connections to their bank accounts drop after just a day or two, rendering the spending and budgeting apps useless. If all of these institutions adopted an API similar to Fidelity’s, the problem would be solved. Alas, that is not likely to happen anytime soon.