Personal finance management app Pocketbook says it is the first app to integrate with Macquarie\u2019s open banking platform.\nThe platform, which provides APIs so fintechs and other third-party providers can more easily connect to customer data and offer new services, was initially piloted in September.\n \nThe Pocketbook integration will give its users \u201cthe option to connect and manage their personal finances\u201d and more easily \u201cadd their banking and credit card accounts\u201d the company behind the app, Zip Co, announced this morning.\n \nPocketbook users are able to manage access to their data in real-time through the Macquarie banking app. Authorised third party providers like Pocketbook have read only access to that customer\u2019s data through a secure token which then reads the data from Macquarie\u2019s systems.\n \nThe platform removes the requirement for customers to reveal banking login details to third parties, meaning services can be accessed far more securely.\n \nMacquarie is an early-mover in providing APIs for third parties to connect to its banking data and is the first to do so comprehensively. \nThe bank is \u201cthe first in Australia to give customers control over their everyday banking data and the power to securely manage how they want to share it\u201d it said.\nANZ bank has made a limited number of APIs \u2013 unrelated to customer banking data \u2013 available via its developer hub.In December 2016, NAB launched a developer portal with a limited number of APIs relating to NAB branch and ATM locations and NAB foreign exchange rates.\n \nPayments giant Visa, meanwhile has published more than 40 APIs \u201cfor every payment need\u201d on its developer platform. Financial institutions that fail to make their APIs openly availablewere \u201cdoomed\u201dVisa\u2019s ANZ head of product Rob Walls toldComputerworld Australiain September.\n \n\u201cThis is a landmark day for Australian fintech. Pocketbook\u2019s first-of-its-kind integration with Macquarie\u2019s banking and financial services group shows that momentum for this innovation is growing fast and we are at the forefront,\u201d said Zip co-founder and CEO, Larry Diamond.\n \n\u201cZip is committed to transparent, fair and friendly financial products that support the totality of a customer\u2019s financial health. Pocketbook is integral to this mission as is open banking, which will give customers access to their data, foster transparent financial decisions and promote competition within a safe and trusted framework.\u201d \nPocketbook is the largest non-bank Australian financial management app with over 400,000 users. It was acquired by the ASX-listed Zip Co \u2013 which is behind the ZipMoney and ZipPay brands \u2013 in 2016.\n \nAlvin Singh, Pocketbook co-founder and CEO added: "This is all about creating a great user experience \u2013 as easy and intuitive as authenticating via Facebook or Google. It's a pleasure to see Macquarie\u2019s banking and financial services group embracing the benefits open banking can bring to Australian consumers."\n \nIn July last year the Government commissioned an independent review to recommend the best approach to implement an Open Banking regime in Australia.\n \nThe report was due at the end of last year but has not yet been released.\n \n\u201cOur customers have been telling us they want to securely connect their information into their favourite accounting software, budgeting app and other innovative services they\u2019re interested in. Macquarie\u2019s open platform will make this possible,\u201d Ben Perham, head of personal banking in Macquarie\u2019s banking and financial services group, said when the platform was launched in September.\n \n\u201cWe\u2019ve built a highly personalised digital banking experience, so empowering our customers to securely manage how they want to use their own data is the logical next step,\u201d he added.