Over the next week, we’ll begin the transition to aggregate data for all of the existing Vanguard connections through their API. Other high volume connections, including Capital One and Fidelity, will transition soon.
Note: As the Capital One connection will require action by your clients, make sure they’re aware that the transition is coming. If your clients would like additional information, share our Capital One API Transition Guide.
As our largest volume connections are beginning to transition, there have been a lot of inquiries about how it works behind the scenes.
Each API requires close collaboration, development, and testing with other institutions. Once an agreement is in place, and development has been completed, a pilot phase helps us to monitor and address any issues that might arise during the transition. Only after the API has been successfully tested, re-tested, (and then tested again) do we officially release it.
This means the testing process can have some stops and starts, but every bump we encounter allows us to create a smooth transition experience. The actual transitions themselves take place in a series of waves, allowing us to closely monitor the transitioning accounts to provide a seamless client experience.
Because of this process, it’s difficult to provide a specific date that your client’s connection will transition. But not to worry, we’re here to help you communicate the transition so your clients don’t miss a beat!
First, we’ve created a wealth of resources to help you explain the API transition, including a new educational slick, Data Aggregation 101: What You Need to Know. This slick helps explain why data aggregation is important, what’s changing in the industry, and how your clients will be affected.
We’ll update the message your client sees in his/her Client Portal to announce the date that the API is available, and explain any action that may be necessary. We’ll offer messaging for each connection before, during, and after the transition to help explain what’s happening during each step.
While many APIs, like Vanguard, will allow the connection to transition without the need for clients to take action, some will require your client to take action. In these instances, they’ll have an experience similar to fixing a “Needs Credentials” error on their Client Portal.
For Capital One, we’ll add a link to the transition guide to walk them through the required steps.
Need Additional Support?
Check out our Connections Resource Center for materials to help you communicate these and other API transitions to your clients, and stay up-to-speed on the APIs transitioning next.
Other questions? Contact us directly at 888-362-8482 or email@example.com.