Give me an intro into the new Finance API and show me some example use cases

Asked on 2024-06-19

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Introduction to the New Finance API

The new FinanceKit API, introduced at WWDC 2024, provides a comprehensive set of tools for accessing and managing financial data stored in Apple Wallet. This API is designed to help developers build robust financial applications by offering access to a wide range of financial information, all while ensuring user privacy and control.

Core Features of FinanceKit

  1. Data Types:

    • Accounts: Represent various financial accounts such as checking accounts, credit cards, and savings accounts. Each account includes a balance and a history of transactions.
    • Transactions: Detailed records of money moving in or out of an account, including unique identifiers for tracking changes over time.

  2. Data Access:

    • Transaction Picker: Allows users to select specific transactions to share with an app. This picker supports filtering and searching to help users find the relevant transactions.
    • Query APIs: Provide asynchronous access to financial data, supporting both one-time snapshots and long-running queries. These APIs require user consent and are designed to be efficient and secure.

  3. Privacy and Control:

    • Users have explicit control over which financial data is shared with apps.
    • Apps can request access to all financial data, but users can choose which accounts and data ranges to share.

Example Use Cases

  1. Personal Budget Tracking:

    • An app can use the FinanceKit API to access a user's transaction history and account balances to provide insights into spending habits and help manage budgets.

  2. Expense Reporting:

    • Users can select specific transactions related to business expenses and share them with an expense reporting app, streamlining the process of creating expense reports.

  3. Financial Analysis:

    • Financial advisors or analysis tools can use the API to access detailed financial data, helping users make informed decisions about their investments and savings.

  4. Subscription Management:

    • An app can track recurring transactions to help users manage and cancel unwanted subscriptions.

For a detailed walkthrough of the FinanceKit API, including how to access and present financial data, you can watch the session Meet FinanceKit.

Relevant Sessions

  • Meet FinanceKit
  • [What’s new in privacy](https://developer.apple.com/videos/play/wwdc2024
What’s new in privacy

What’s new in privacy

At Apple, we believe privacy is a fundamental human right. Learn about new and improved permission flows and other features that manage data in a privacy-preserving way, so that you can focus on creating great app experiences.

Meet FinanceKit

Meet FinanceKit

Learn how FinanceKit lets your financial management apps seamlessly and securely share on-device data from Apple Cash, Apple Card, and more, with user consent and control. Find out how to request one-time and ongoing access to accounts, transactions, and balances — and how to build great experiences for iOS and iPadOS.