Welcoming a new era of transparency, security and trust in open finance
In the rapidly evolving open finance ecosystem, where innovation must blend seamlessly with safety and soundness, Invela is pleased to announce that it has embedded validated assessments performed by S&P Global into its critical Accreditation service.
Invela Accreditation is a first-of-its-kind, purpose-built framework for vetting third-party provider risk in open finance. It allows accredited data recipients, such as fintech and wealthtech companies, to demonstrate that they meet high standards in areas including information security, operational resilience, privacy, and data protection – thereby ensuring their access to financial data.
“We are delighted to have selected S&P Global as our vendor,” states Steve Smith, CEO of Invela. “By integrating validated assessments from S&P Global’s KY3P/TruSight team into our onboarding process, Invela Accreditation, we have established a rigorous framework for safe financial data sharing. And, as a cornerstone of our Network, Invela Accreditation underpins our commitment to safe, transparent, and effective risk management – building trust where it matters most.”
How Invela Accreditation works
Invela’s standardized and transparent accreditation framework combines data recipients’ existing documentation with AI to enable scalable, efficient, and cost-effective processing. Rigorous, financial-grade assessments, conducted by experienced professionals from S&P Global’s KY3P/TruSight team, evaluate each recipient’s cybersecurity, business continuity, and operational resilience. Once validated, these assessments are integrated into Invela’s own analysis, which includes Know Your Business checks, information security reviews, and open finance-specific criteria such as use case validation. The result is the Invela Accreditation: a clear, trusted signal that a data recipient meets the standard for secure financial data access and is eligible to join the Invela Network.
With Invela Accreditation, data recipients apply once to access many financial institutions – eliminating the need for arduous and lengthy institution-by-institution accreditation.
How Invela delivers Open Finance Risk Management
To scale open finance safely, the ecosystem needs coordinated, proactive, and transparent open finance risk management. That’s exactly what Invela delivers.
- First line of defense: Invela Accreditation. Invela’s open finance-specific accreditation process – incorporating validated assessments conducted by S&P Global’s KY3P/TruSight team – rigorously vets third-party providers, enabling them to connect with multiple financial institutions through a single process. Accreditation isn’t a one-off – it’s renewed annually.
- Second line of defense: Invela Risk Indicator. Invela continuously monitors entity-level behavior on the Invela Network across thousands of data points. Banks, building societies and credit unions receive real-time alerts when a third-party provider breaches their individual risk appetite – enabling proactive data access revocation before contagion spreads.
- Third line of defense: Invela Warranty. An efficient risk transfer framework which compensates data holders when losses occur. Invela’s insurance-backed warranty is efficient, fair, and informed by real-time intelligence.
- Plus, governance that builds trust. Transparent, non-discriminatory protocols govern the Invela Network. No exclusionary practices. Just fair, accountable market participation.
Are you ready to scale your Open Finance defenses?
The views expressed by Invela are their own and not necessarily the views of S&P Global Market Intelligence. S&P Global Market Intelligence does not guarantee, warrant, or endorse the products or services of any firm, organization, or person. S&P Global disclaims all express or implied warranties and liability.
