SnapTrade and Public Partner to Provide Retail Investors The Ability to Connect Their Accounts to Trading Tools
NEW YORK, NY / ACCESSWIRE / December 10, 2024 / SnapTrade, an API that connects retail investors to trading tools, is partnering with Public, a multi-asset investing platform, to allow Public members the ability to connect to third-party investment tools. SnapTrade's tools include market-defining applications like Blossom, Simply Wall St, AfterHour, and 70+ other apps that use SnapTrade to power their connectivity to investing platforms.
Consumers increasingly rely on third-party tools to integrate their varying bank and investment accounts, and many are moving towards open banking solutions. With open banking, consumers are protected and can share their data as they see fit. However, the open banking space excludes investment accounts from regulations like PSD2 in Europe and the recently-enacted regulation CFPB-1033 in the United States. As a result, consumers are still subject to the insecure practice of credential-sharing when importing their investment account data into third-party tools.SnapTrade is working with financial institutions to eliminate credential-sharing for investing accounts while bringing additional functionality to investing accounts through its extensive list of compatible investing applications. SnapTrade currently connects over 500,000 investment accounts across its network.
SnapTrade and Public are partnering to allow secure account linking for trading tools on SnapTrade's platform. Now, through this integration, Public members can access the 60+ applications on SnapTrade instantly and securely through secure account linking. Public members retain full control over how their data is shared and can also revoke access at any time through the Connected Account settings.
"Retail investors use a variety of apps and research websites to help them manage their portfolio and invest. This is a space where one size does not fit all, so investors need to be able to access a diverse offering of tools securely. SnapTrade brings best-in-class solutions for portfolio tracking, analytics, rebalancing, financial media, shareholder rewards, and more," said Brendan Wood, CEO of SnapTrade.
"By partnering with SnapTrade, we are allowing our members to control their data and securely access a broad set of applications to help them make better-informed investment decisions," said Stephen Sikes, COO of Public. "Public members can feel confident in the selection, safety, and security in sharing data with third parties."
SnapTrade works with leading brokers in the United States, Canada, Europe, Australia, and India, taking a compliance-first approach to ensure the safety of consumers.
For more information about the partnership and SnapTrade's offerings, please visit snaptrade.com.
About SnapTrade
SnapTrade is a leading provider of retail brokerage aggregation solutions, enabling individual investors to connect their brokerage accounts to a wide array of financial applications. The platform focuses on delivering secure and easy-to-use solutions for both developers and end-users, offering more control and flexibility in managing investment portfolios. At SnapTrade, we're driving global innovation in the investing space, while allowing investors to continue using the brokerage platforms they love.
About Public
Public is an investing platform that makes building a multi-asset portfolio fast, secure, and frictionless. Members can invest in stocks, options, bonds, crypto, and a high-yield cash account-all in one place. Members can also access real-time and historical fundamental data and custom analysis with Alpha, the AI for investors. At Public, we're committed to creating a more transparent investing experience that is consistently aligned with our members' best interests.
Contact Information
Rachel Livingston
Director of PR at Public
press@public.com
Tyler Milson
Head of Operations at SnapTrade
pr@snaptrade.com
Source: SnapTrade
View the original press release on accesswire.com
