Payment Methods

Finicity Releases New ACH Account Verification API

Finicity announced on Tuesday (Sept. 20) it has released its new ACH Account Verification API.

In a press release, the company said the service enables payment and investment app developers to quickly verify account details required to initiate inbound ACH account transfers. Finicity went on to note that it provides financial app developers more than 1,400 direct integrations to improve new client onboarding and ongoing funds verification sourcing.

“At Finicity, we’re committed to expanding our APIs and services to enrich existing partner offerings and open new partner markets,” said Nick Thomas, cofounder and president of Finicity Data Services. “The ACH Account Verification API accomplishes both by providing foundational payment and investment account funding services across a high percentage of deposit accounts in the U.S.”

In addition to the new ACH Account Verification offering, Finicity continues to deliver Financial Data APIs for the industry, including transaction and account data, account history and account statement aggregation. As a financial data aggregator, Finicity is also the maker of the TxPUSH API, which makes it easier for developers to use the Finicity API platform to receive account and transaction data instantly.

While Finicity is making it easier for developers, not all APIs are doing that. Earlier this year, TechCrunch reported that Venmo is no longer offering access for new developers to use its API. That doesn’t mean, of course, it’s a permanent move, but it seems to be putting a halt on their ability to integrate its API for the time being.

Through TechCrunch, Venmo offered the following statement: “The Venmo API is still available to existing users; however, we are not offering access to new users. We apologize for the confusion created by the ambiguity in our prior statement.”

TechCrunch initially reported that Venmo was shutting its developer API down all together, but those details were later clarified on the site after more communication was had with the company. That came after a message on its site read: “The Venmo API is no longer available. We’re sorry for the inconvenience. Please reach out to our support team if you have questions.”

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