Managing your financial data is a matter of trust. At Walletguide, we know that handling sensitive banking information requires not only robust technology, but also a transparent approach and the highest standards of security. In this article, we'll explain how we access and process your banking data, why we chose finAPI as our open banking partner, and what this means for your experience as a user.
Why secure banking data access matters
Your financial data is the foundation for meaningful insights, accurate net worth tracking, and better financial decisions. But with great power comes great responsibility — especially when it comes to privacy and security. That's why we've always prioritized working with partners who meet the strictest regulatory and technical standards.
Our journey: From Klarna and GoCardless to finAPI
When we first launched Walletguide, we integrated with Klarna and later GoCardless to enable automated bank account imports. Both providers offered reliable access to current and savings accounts via the PSD2/XS2A interface, which is the European standard for open banking. However, these solutions were limited to classic bank accounts — meaning you couldn't connect loans, credit cards, or investment portfolios. This limitation was particularly noticeable for our users in Germany, where expectations for comprehensive account coverage are especially high.
As our user base grew, so did the demand for a more complete financial overview — especially among entrepreneurs and those with more sophisticated needs. In the German market, it quickly became clear that supporting only standard bank accounts was not enough. Many users wanted to connect additional account types, such as loans, credit cards, and investment portfolios, to get a true 360° view of their finances.
Why we chose finAPI — and what makes it different
finAPI is one of Europe's leading open banking providers, trusted by over 400 companies, including major B2B platforms like DATEV. Unlike previous providers, finAPI enables Walletguide to access a much broader range of account types:
- Bank accounts (current, savings, business)
- Loans and credit lines
- Credit cards
- Investment portfolios and securities accounts
- PayPal and other payment accounts
This is possible because finAPI supports not only the PSD2/XS2A interface, but also the FinTS protocol (formerly known as HBCI) - a German standard that plays a crucial role in enabling access to these additional account types. Additionally, finAPI uses web scraping as a fallback method when neither XS2A nor FinTS are available, particularly for certain credit card accounts, investment portfolios, or other non-payment accounts. This multi-layered approach ensures maximum account coverage and data availability. Thanks to this comprehensive integration strategy, Walletguide can now automatically import data from loans, credit cards, and even investment portfolios, providing a holistic financial overview for our users in Germany.

Security, compliance, and your privacy
Security is non-negotiable when it comes to financial data. finAPI is licensed and supervised by BaFin (the German Federal Financial Supervisory Authority) and is TÜV-certified for privacy and data protection (see certificate). All data transfers are encrypted, and your explicit consent is always required before any account is connected. Walletguide never shares your data with third parties, and you remain in control at all times.
For more details, see our knowledge base article on how we handle banking data.
Building trust: Why finAPI is the choice of professionals
finAPI isn't just used by consumer apps — it's the backbone for many B2B solutions, including the renowned German accounting platform DATEV. This level of adoption demonstrates both the reliability and the security of the platform. For entrepreneurs and business owners, knowing that the same infrastructure powers leading business software is a strong signal of trust.
What's next for Walletguide users?
With finAPI, Walletguide can now offer:
- Broader account coverage: Connect not just your bank accounts, but also loans, credit cards, and portfolios
- Better insights: A more complete financial picture for smarter decisions
- Future-proof technology: A partner that evolves with European regulations and industry standards and provides access to thousands of banks and financial institutions across Europe
Looking ahead, we're excited to further strengthen our partnership with finAPI and expand banking data import to even more European countries, bringing enhanced financial connectivity and insights to our users across the continent.