Quovo launches PFM widgets
Venturing into PFM
Financial data provider Quovo is getting into the personal finance management (PFM) game by launching account aggregation modules built on its API layer, reports Julie Muhn at Finovate (Banking Technology‘s sister company).
The new modules will enable end users to track spending and saving, view their net worth, improve budgeting and make progress toward their financial goals.
Financial institutions can fully customise how they design their PFM offerings with Quovo, the company says. Banks can opt to implement the full package or individual widgets to achieve the optimal mix of build versus buy, it adds. The modules are designed for mobile use and can be white-labeled to fit a bank’s branding.
Niko Karvounis, chief product officer and co-founder of Quovo, says account aggregation is a “must-have centerpiece for any digital strategy in fintech”, but firms often struggle between building on Quovo’s API or buying a front-end turnkey solution. “With the launch of Quovo PFM, we now support the full spectrum of configuration options for deploying world-class account aggregation, including directly via our API, through embeddable modules, within a full dashboard, or even a combination of our approaches,” he states.
Quovo was founded in 2010. Earlier this year, it unveiled a new account authentication solution, Autoverified Micro-deposits. Quovo says it serves “hundreds of institutions, thousands of advisors, and millions of end-users”.
Lowell Putnam is the company’s co-founder and CEO.
