In the new Apple iOS 17.4 update there is a little something for fintech enthusiasts: a new API called FinanceKit.
This is another example of Apple edging its way into open banking after last November the company allowed UK users to connect outside accounts.
Apple’s new update is for US users and is already live with three fintech partners: YNAB, Monarch and Copilot.
What FinanceKit does is allow developers to fetch transaction balance information from Apple Card, Apple Cash, and Savings with Apple. It is a PR coup for the chosen companies as each shared on X yesterday.
Like pretty much everything with Apple it has been a walled garden when it comes to access to its financial products. But we can see the door beginning to open which will be a great thing for fintech innovation.
Featured
> Apple releases a new API to fetch transactions from Apple Card and Apple Cash
By Ivan Mehta
Apple’s iOS 17.4 update is primarily about adapting iOS to EU’s Digital Market Act Regulation. But the company has also released a new API called FinanceKit that lets developers fetch transactions and balance information from Apple Card, Apple Cash, and Savings with Apple.
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Embedded finance can help small businesses manage their money end-to-end, but not all companies are equipped to offer it properly.
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