Mastercard Open Banking (formerly Finicity) Pros and Cons: Top Advantages and Disadvantages

Quick AI Summary Based on G2 Reviews

Generated from real user reviews

Users appreciate the user-friendly API of Mastercard Open Banking, simplifying integration for developers in their applications. (1 mentions)

Users appreciate the ease of use of Mastercard Open Banking, simplifying financial management and payment processing. (1 mentions)

Users appreciate the easy setup of Mastercard Open Banking, allowing seamless integration for developers. (1 mentions)

Users appreciate the amazing features of Mastercard Open Banking for efficient financial management and easy payment processing. (1 mentions)

Users appreciate the ease of integration of Mastercard Open Banking, allowing seamless connectivity for developers. (1 mentions)

Users have noted delays in refreshing financial data, affecting the reliability of real-time updates with Mastercard Open Banking. (1 mentions)

Top Pros or Advantages of Mastercard Open Banking (formerly Finicity)

1. API Usability

Users appreciate the user-friendly API of Mastercard Open Banking, simplifying integration for developers in their applications.

See 1 mentions

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Harsh J.

Small-Business (50 or fewer emp.)

5.0/5

"Revolutionizing Financial Data Connectivity and Verification"

What do you like about Mastercard Open Banking (formerly Finicity)?

The platform's API is designed for ease of use, making it straightforward for developers to integrate Finicity’s services into their applications.

2. Ease of Use

Users appreciate the ease of use of Mastercard Open Banking, simplifying financial management and payment processing.

See 1 mentions

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Gataka M.

Small-Business (50 or fewer emp.)

4.5/5

"A Great Financial Management Solution For Business"

What do you like about Mastercard Open Banking (formerly Finicity)?

I like that Finicity is well equipped and offers amazing features for financial management. The software makes payment processing easy.

3. Easy Setup

Users appreciate the easy setup of Mastercard Open Banking, allowing seamless integration for developers.

See 1 mentions

See Related User Reviews

Harsh J.

Small-Business (50 or fewer emp.)

5.0/5

"Revolutionizing Financial Data Connectivity and Verification"

What do you like about Mastercard Open Banking (formerly Finicity)?

The platform's API is designed for ease of use, making it straightforward for developers to integrate Finicity’s services into their applications.

4. Features

Users appreciate the amazing features of Mastercard Open Banking for efficient financial management and easy payment processing.

See 1 mentions

See Related User Reviews

Gataka M.

Small-Business (50 or fewer emp.)

4.5/5

"A Great Financial Management Solution For Business"

What do you like about Mastercard Open Banking (formerly Finicity)?

I like that Finicity is well equipped and offers amazing features for financial management. The software makes payment processing easy.

5. Integrations

Users appreciate the ease of integration of Mastercard Open Banking, allowing seamless connectivity for developers.

See 1 mentions

See Related User Reviews

Harsh J.

Small-Business (50 or fewer emp.)

5.0/5

"Revolutionizing Financial Data Connectivity and Verification"

What do you like about Mastercard Open Banking (formerly Finicity)?

The platform's API is designed for ease of use, making it straightforward for developers to integrate Finicity’s services into their applications.

Top Cons or Disadvantages of Mastercard Open Banking (formerly Finicity)

1. Delays in Process

Users have noted delays in refreshing financial data, affecting the reliability of real-time updates with Mastercard Open Banking.

See 1 mentions

See Related User Reviews

Harsh J.

Small-Business (50 or fewer emp.)

5.0/5

"Revolutionizing Financial Data Connectivity and Verification"

What do you dislike about Mastercard Open Banking (formerly Finicity)?

Real-time data updates are a critical feature but some users have experienced delays in refreshing financial data.

Top-Rated Alternatives

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Verified User

Jr. Business Research Associate / Strategic Insights

Small-Business (50 or fewer emp.)

9/22/2022

5/5

Having used the API extensively, this reviewer finds it powerful and easy to use, ensuring speed and accuracy of data. There is a need for improved marketing to reassure users about data security amidst concerns over data safety.

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Summarized using AI

Harsh J.

Manager

Small-Business (50 or fewer emp.)

11/21/2024

"Revolutionizing Financial Data Connectivity and Verification"

5/5

What do you like best about Mastercard Open Banking (formerly Finicity)?

The platform's API is designed for ease of use, making it straightforward for developers to integrate Finicity’s services into their applications. Review collected by and hosted on G2.com.

What do you dislike about Mastercard Open Banking (formerly Finicity)?

Real-time data updates are a critical feature but some users have experienced delays in refreshing financial data. Review collected by and hosted on G2.com.

Gataka M.

IT Manager

Broadcast Media

Small-Business (50 or fewer emp.)

5/27/2024

"A Great Financial Management Solution For Business"

4.5/5

What do you like best about Mastercard Open Banking (formerly Finicity)?

I like that Finicity is well equipped and offers amazing features for financial management. The software makes payment processing easy. Review collected by and hosted on G2.com.

What do you dislike about Mastercard Open Banking (formerly Finicity)?

Finicity has all we need. No dislikes at all. Review collected by and hosted on G2.com.

Nologor O.

Sales Rep

Hospitality

Small-Business (50 or fewer emp.)

5/21/2024

"A Great Data Privacy Solution"

4.5/5

What do you like best about Mastercard Open Banking (formerly Finicity)?

I like the ease of managing data privacy.

It has amazing features and integration is easy

Implementation is straightforward and Finicity is amazing. Review collected by and hosted on G2.com.

What do you dislike about Mastercard Open Banking (formerly Finicity)?

Finicity has the features our business needs and no issues. Review collected by and hosted on G2.com.

Verified User in Computer Software

Small-Business (50 or fewer emp.)

5/12/2023

"Unorganized and unprofessional company"

0/5

What do you like best about Mastercard Open Banking (formerly Finicity)?

Sales person was very friendly and was the only professional person that I dealt with. Review collected by and hosted on G2.com.

What do you dislike about Mastercard Open Banking (formerly Finicity)?

Onboarding team was unprofessional and unorganized at best. They were rude and dismissive at worst. Required useless meetings with a bunch of their team members that started by them discussing who was supposed to be presenting and what the meeting was about for the first 15 minutes. Invoicing is sloppy and appears randomly after they bill even though it should be monthly. Contract details were changed multiple times for no apparent reason and without giving any warning before sending over new terms for signature. I chose not to implement this feature into my product because they were unprofessional the second the contract was signed. Review collected by and hosted on G2.com.

Mike R.

Marketing consultant

Small-Business (50 or fewer emp.)

11/29/2022

"I have excellent experience and would love to recommend to others,"

3.5/5

What do you like best about Mastercard Open Banking (formerly Finicity)?

greatly improves bank payments and AHS transfer Review collected by and hosted on G2.com.

What do you dislike about Mastercard Open Banking (formerly Finicity)?

Nothing. I don't have anything to say dislike Review collected by and hosted on G2.com.

Sanju J.

International Support Specialist

Small-Business (50 or fewer emp.)

10/3/2022

"Best real-time financial management services"

4.5/5

What do you like best about Mastercard Open Banking (formerly Finicity)?

API integration is very helpful also support teams are responsive Review collected by and hosted on G2.com.

What do you dislike about Mastercard Open Banking (formerly Finicity)?

There was a problem to access my account, there was a link problem as well. But it's improving. Review collected by and hosted on G2.com.

Verified User in Information Technology and Services

Mid-Market (51-1000 emp.)

9/15/2022

"Poorly designed APIs & documentation"

2.5/5

What do you like best about Mastercard Open Banking (formerly Finicity)?

It has plenty of features, especially when compared to competitors. These features allow developers to be more flexible in their application design and development. Review collected by and hosted on G2.com.

What do you dislike about Mastercard Open Banking (formerly Finicity)?

The Finicity developer API documentation is a mess and frequently lacking in certain areas. Review collected by and hosted on G2.com.

Verified User in Food & Beverages

Mid-Market (51-1000 emp.)

9/16/2022

"Good choice, but it would be better"

4/5

What do you like best about Mastercard Open Banking (formerly Finicity)?

I like the average speed of the whole platform. It is easy to understand the basic functions when you use it. Review collected by and hosted on G2.com.

What do you dislike about Mastercard Open Banking (formerly Finicity)?

There are some issues from time to time and the platform generate error messages. Review collected by and hosted on G2.com.