Onist forms partnership with Quovo to support expansion into Canada

Personal finance platform Onist has formed a partnership with financial account data platform Quovo.

Last month, Quovo raised $20m in its Series B round, with Portag3 Ventures and IGM Financial among the firms to invest. With the support of the capital, the company localised its technology to also accommodate Canadian account types and institutions.

This deal marks Quovo’s first partnership, and Onist will hopes it will support its expansion into Canada. Onist can now offer its personal finance solution to Canadian consumers, and lets its users sync their Canadian accounts such as RRSPs and TFSAs, which was previously not available.

Onist is a financial platform which offers families and professionals a single platform for their household’s net worth and cash flow. Founded in 2015, the company connects all family accounts, and lets them share documents through an encrypted vault, and share information with family members or professionals.

Based in New York, Quovo provides companies with connectivity and insights for millions of consumer financial accounts across more than 14,000 different institutions.

Its technology retrieves, organises, and analyses data from across the full breadth of financial accounts. Financial services companies use to solution to provide the data and insights they need to predict, transact, and personalise their services more effectively and with greater confidence.

Onist CEO Brad Kotansky said, “Onist is all about helping families and their advisors collaborate around household finances – and having access to your complete, reliable Canadian financial data is key to that.

“We are thrilled to partner with Quovo and feel strongly that we can help bring Canadians the same financial insight Americans have had for years. There’s never been a better time for Canadian families to be able see and digest all of their important financial information in one place.”

Copyright © 2018 FinTech Global

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