BROOKFIELD, Wis.— Fiserv has received a 2022 BIG Innovation Award for AllData Connect.
According to the company, AllData Connect from Fiserv is a tokenized connectivity platform that allows consumers to share their banking and financial information without exposing their credentials, such as username and password, with commercial marketplace aggregators.
“Consumers access AllData Connect through a secure portal offered by their financial institution and can consent to share their financial data with third parties with which they also have a relationship. AllData Connect integrates with existing Fiserv bank and credit union platforms, and allows fintechs to securely access the data that consumers need to enable their applications,” the company explained.
“Data integration and connected banking present strong customer relationship strengthening opportunities for banks and credit unions,” said Paul Diegelman, vice president of digital payments and connectivity at Fiserv. “Consumers want the ability to securely and conveniently share their financial data without sharing their login credentials. Financial institutions that work with Fiserv can deliver this capability with AllData Connect, securely streamlining processes that are often complex for financial institutions to support. By reducing the risk of data sharing, we’re able to help financial institutions and their customers focus on the bigger picture of money management.”
Presented by Business Intelligence Group, the BIG Innovation Awards recognize organizations and people who bring new ideas to life, according to the organization. Nominations come from across the globe and are judged by a select group of business leaders and executives, BIG said.
‘Driving Growth’
“Innovation is driving growth in the global economy, and Fiserv is one of the organizations leading this charge,” said Maria Jimenez, chief operating officer of Business Intelligence Group. “AllData Connect serves as a proof point of this mission, as a powerful tool that is helping consumers, businesses and financial institutions navigate the expanding demand for data aggregation.”
Virtual Banking Assistant from Fiserv was honored as a winner of the 2021 BIG Innovation Awards.