Fiserv Announces Partnership With Verady For Crypto Asset Financial Data

Payments provider Fiserv has integrated with Verady to enable consumers to share data on cryptoasset holdings with their FinTech apps and service providers.

Fiserv enables money movement for thousands of financial institutions and millions of people and businesses in a world that never powers down. The company serves over 1.4 billion financial accounts globally and have touchpoints with nearly 100% of households in America. They process 12,000 transactions per second, with their 10,000 financial institution clients, 6 million global merchants, and 100 million global banking users.

Verady is the creator of Ledgible Crypto Tax and Accounting software. Ledgible is changing the landscape of cryptocurrency financial reporting and creating the ideal solution for consumer, business, and tax professionals to use. Verady’s data layer provides the assured crypto transactions and balances that can be relied upon to deliver the needed financial reporting and services to the rapidly growing crypto ecosystem.

According to the press release, integration of AllData Aggregation from Fiserv with Verady will provide consumers a view of cryptoassets alongside other financial data. AllData Aggregation enables thousands of financial institutions, FinTechs and other companies to access data and facilitate transactions across existing and emerging applications, and tens of millions of consumers to connect to their bank account, billing, card, mortgage and other data through the third parties of their choosing.

James Wester, research director of IDC’s Worldwide Blockchain Strategies research practice, said that the gradual adoption of bitcoin and cryptocurrencies by corporations and financial institutions signals a broader acceptance within financial services that will require support from a new set of products and services.

“The inclusion of cryptoassets into standard account aggregation views is an early example of what is likely to be a proliferation of such crypto-driven services,” said Wester.

“Cryptoassets continue to grow in importance as they make their way into the portfolios of mainstream investors, who need and want to share asset information with their wealth managers, lenders, tax preparers and fintech apps,” said Byron Vielehr, chief digital and data officer at Fiserv. “Now, in addition to the wide array of financial information we already aggregate, including bank account, bill payment and loan information, AllData Aggregation will provide ongoing visibility into cryptoasset investments, all through the aggregation platform these providers rely upon today.”

“The integration of our Ledgible platform’s cryptoasset data capabilities into AllData Aggregation brings a singular solution to the industry,” said Kell Canty, CEO at Verady. “As this emerging asset class continues to rapidly expand in adoption and value, the number of people holding cryptoassets is exploding as well. It is critical to deliver the data consumers, financial advisors, and businesses need to actively manage these investments and report on their performance and tax.”

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