Data Toolbox

Overview

Get reliable and secure access to consumer financial data with our Data Toolbox API. Based on the Financial Data Exchange 3.0 Specification—the industry standard for exchanging consumer financial data —this product is implemented in conjunction with the U.S. Bank online banking website, where our customers are empowered to control and give consent to which third parties will receive access to their data.

Features

Create powerful applications or use individual tools to support unique requirements through our Data Toolbox.

Account insights

Provide a wide array of insights for multiple account types that include checking, savings, credit card, mortgage, and brokerage.

Transactions

View history from customer accounts with details like transaction amounts and dates, as well as who customers interact with.

Account statements

Retrieve statements as an individual PDF or as a list of statements from a set time frame.

Tax documents

See historical tax forms as PDFs, including 1098, 1099Int, 1099Div, and others as either a single document or a list of documents.

Customer profile

View basic customer profile information, including name, date of birth, address, and phone number.

Workflow

Example use cases

Authenticate consumers with our Data Toolbox API. View current account balance and a list of transaction history for those consumers who have authorized third-party access to their account information. Plus, using our OAuth tokens mean never storing consumer login credentials.

Account identity verification

Confirming who owns an account is paramount to most consumer banking functions. We confirm identity when we open consumer accounts so you can rest assured that it's resolved from the start. When consumers authorize access to their account information, our APIs can provide a valuable asset in your security practices.

• Use the Accounts API to get access to the account identifier, then use the account identifier with the Customer API to see consumer profile data.
• Create out-of-wallet security questions for consumers with the Tax API, like “In which month and year did you get your last mortgage?”
• Make and use an account identity verification score to approve or deny services like account creation or step-up credit risk.
• Store customer-owned accounts with the {customerId} and {accountId}.

Payment risk modeling

Help businesses understand and define a consumer risk score using consumer-authorized payment-level data. Use the score to reduce fees, prevent fraud and improve customer experience.

• Get statements and calculate an average balance for the account over a historical period using the Statements API.
• Use the Accounts API to get the current account balance and determine the likelihood of whether a payment will clear successfully.
• Analyze historical deposit account transactions for non-sufficient funds items using the Transactions API.

Financial health indicators

See a 360-degree snapshot of a consumers authorized accounts and offer certain financial health indicators.

How to obtain account and statement-level detail

1. Use the Accounts API to get authorized access to consumer account information including checking, savings and credit lines.
2. Call the Accounts and Statements APIs using {accountId} to obtain details on spending habits.

How to make a recommendation on savings account balance

1. Use the Accounts API to determine if a savings account is present.
2. Get the current balance of the savings account.
3. Compare the savings balance against consumer income to see if it meets the average three-month benchmark for healthy liquid assets.
4. Make a recommendation to increase the balance if the consumer has less than three months of income in their savings account.

Shorter loan processing time

Verifying loan documentation is time-consuming. Using our APIs can help it go faster.

Once you have access to the Tax API, you can:

• View historical tax information.
• Get loan origination date or mortgage loan details from 1098 forms.
• Confirm and pre-fill customer address information.

Loan payoff calculator and payment alerts

Enrich the customer experience with suggestions and alerts to help them make financial decisions. A calculator tool can provide loan details to help customers stay on top of payments.

• Provide alerts for the next payment amount and due date
• Calculate payment frequency, interest rate and terms.
• Calculate an early payoff and show consumers their interest savings.
• Send email or SMS-based alerts to introduce new loan opportunities like refinancing a mortgage or getting a new car loan.

Restrictions

The Data Toolbox API has no restrictions.