Charles Schwab Reinforces Its Commitment to Customer Data Protection
Summary
SAN FRANCISCO--(BUSINESS WIRE)--Today Charles Schwab announced agreements with Intuit (maker of QuickBooks, TurboTax and Mint), eMoney Advisor (a financial planning software provider), and Envestnet | Yodlee (a leading financial data aggregation and analytics platform), to use Schwab’s “API” (application programming interface) connections. The use of APIs are a best practice in the industry and take a token-based approach which enables clients to authorize third parties to download requested account information on their behalf in an encrypted form, without storing their usernames and passwords. “These new partnerships underscore the continuing need to ensure our clients’ valuable financial data is protected,” said Linda Albornoz, Senior Vice President of Digital Cross-Enterprise Platforms at Charles Schwab. Envestnets unified technology empowers enterprises and advisors to more fully understand their clients and deliver actionable intelligence that drives better outcomes and improves lives. Envestnet | Tamarac provides portfolio management, reporting, trading, rebalancing and client portal solutions for registered investment advisors (“RIAs”).
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