The main goal of Apple’s iOS 17.4 update is to make iOS compliant with the EU’s Digital Market Act Regulation. However, the business has also made available to developers a new API called FinanceKit, which enables them to retrieve balance details and transaction data from Apple Card, Apple Cash, and Savings with Apple.
The company’s initial partnerships are with Copilot, Monarch, and YNAB. Users will be able to track all Apple finance accounts in real time, according to a post made by Copilot on X. Users of Copilot had to upload documents in order to view their transactions in the past.
Todd Curtis, CEO of YNAB, stated in a statement,“We are thrilled to be one of the first apps selected by Apple to bring this feature to life,” “Since 2004, YNAB has been focused on helping people change their relationship with money, and we are excited that this integration will enhance the YNAB experience for Apple Card holders, making it even easier for them to spend confidently, save aspirationally, and even give joyfully.”
Apple has expanded the range of financial solutions it provides over time. 2019 saw the release of the Apple Card. It was reported earlier this year that in 2023, Apple Card users would receive $1 billion in daily cash rewards. Additionally, the business reported that over 12 million users of Apple Cards. In collaboration with Goldman Sachs, Apple introduced a savings account in April 2023 that offers an APY of 4.15%. The business announced in August 2023 that deposits into the new savings account had already exceeded $10 billion.
