tell me about financekit

FinanceKit is a new API introduced by Apple that provides access to a central repository of financial data stored in Apple Wallet. It allows developers to build compelling financial apps by providing a rich set of financial information, including high-level details for each account, available balance information, and access to financial transactions.

Key Features of FinanceKit:

1. Core Data Types:

   • Account: Represents financial accounts such as checking accounts, credit cards, or savings accounts. Each account has a balance and contains transactions.
   • Balance: Represents the amount of money in the account at a particular moment in time.
   • Transaction: Represents how money moved in or out of the account, with unique identifiers for tracking.

2. Data Access:

   • Data Availability: Check if financial data is available on the device using the isDataAvailable method on the FinanceStore class.
   • Transaction Picker: Allows users to select transactions they want to share with the app. Transactions can be filtered and searched.
   • Ongoing Access Control: Users can choose which accounts to share and set the earliest sharing date for ongoing data access.

3. Privacy and Security:

   • All financial data access is local on the device and requires no internet connection.
   • Users have explicit control over which and how much financial data an app may access.
   • Users can modify access to financial data settings at any time.

Best Practices:

• Ensure to check for data availability before making financial data-related calls.
• Use the transaction picker for one-time access to specific transactions.
• Apply for the FinanceKit entitlement for ongoing access to financial data.

For more detailed information, you can refer to the session Meet FinanceKit (00:01:48).

Relevant Sessions:

1. Meet FinanceKit
2. What’s new in privacy