Account Aggregation Service Agreement

You agree to protect us and our service provider and their affiliates from any claim, liability, damage, expenses and expenses (including, but not limited to reasonable legal fees) and to compensate them in full, or as a result of your use of the Service, your violation of these Terms, your violation or any violation by another user of your account. intellectual property or any other right. Careful. Banks providing aggregation services should put in place effective controls on risk management and compliance with legal and political requirements. The information provided by customers should be effective in avoiding potential customer confusion about the roles and responsibilities of the bank and the nature of the risks associated with the products or services offered. One unique thing about our account aggregation service is that it works with the services of other partner aggregators. Our internal service is grouped in our backend with these case aggregators to autonomously manage the routing of traffic to the best aggregator according to the specific requirement. We found that most companies that use aggregation services require partnerships with different aggregators and build the logic described above. So we chose to create our account aggregation service so that platforms can avoid the complexity of creating in these folders. Bank aggregation services can also provide analytics or other automated tools that customers can use to make financial decisions, including information needed for decision-making. These instruments and the information associated with them should be proposed in such a way as to clearly define the Bank`s responsibility in the decision-making process.

In addition, banks can provide aggregation services that allow consumers to initiate transactions on the bank`s website based on the information provided. To the extent that a bank can trade securities on behalf of other banks, the bank should consult the applicable securities laws and regulations. In particular, effective May 12, 2001, banks will no longer have a general exception to the broker`s definition under federal securities laws. Banks are exempt from listing as brokers with the Securities and Exchange Commission only if their activities are in various exceptions, which are in 15 USC 78c (a) (4). If you are like most people, you have financial accounts with different organizations. This service gives you the ability to collect your financial information, including brokerage, insurance, current accounts and savings accounts of financial institutions other than Prudential, for use in certain computers and financial tools, or to obtain a transparent and holistic picture of your financial information on a secure and convenient Prudential website. Typically, a bank provides an aggregation service under its brand through a third party. This service provider is a leading contractor specializing in collecting, storing, protecting and presenting information to the customer. The third-party supplier, on the other hand, can outsource some of its functions. B, such as paying the bill, to other specialists. The bank or third party can also provide or outsource software that analyzes customer behavior and offers financial products for that customer.

Aggregated financial information often comes from other websites that owners may not know they are providing content and therefore do not have a contract or agreement with the aggregate bank or service provider. Functionality currently in development: In addition to transaction data, we also return all invoices that a user has linked to their bank. In the long run, our goal is to provide a migration tool for paying bills, which allows customers to change banks in seconds so that customers can easily switch from an external bank to a Synapse account.

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