Online Banking

MoneyDesktop, First Data to integrate PFM tool into online banking

Thursday 19 April 2012 | 09:36 AM CET

MoneyDesktop, a US-based provider of financial management services for credit unions, has entered an agreement with US-based e-commerce and payment processing provider First Data, to integrate its personal financial management (PFM) tool into the latter’s online banking platform, dubbed FundsXpress fx eBanking.

The new service is set to become available to all First Data online banking customers starting with Q3 2012. Other terms of the deal have not been disclosed yet. The PFM tool includes account aggregation from more than 10,000 financial institutions as well as budgeting and debt management tools to help financial institution customers manage all of their financial accounts in one place.

First Data provides merchants, financial institutions and their customers with payment by debit or credit card, gift card, check or mobile phone, online or at the checkout counter. The online banking services are developed using an application service provider (ASP) model. Most recently, First Data has completed the integration with USA ePay, a payment processing gateway.

MoneyDesktop provides a range of services which include debt elimination, financial management, to over 260 credit union customers.
 

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