FinTech news in method category

Tapping into identity verification data from credit bureaus (e.g. Equifax) and wireless carriers (e.g. T-Mobile) and combining it with real-time data from financial institutions’ core banking systems, Method can collate a person’s liabilities across more than 60,000 institutions in the U.S. and kick off tasks such as balance transfers, payoffs, bill pay and more. While the startup competes with big names like Plaid, MX, Spinwheel and Dwolla, Shah sees Method holding its own, particularly as the platform rolls out new features in the next few months including real-time credit card transactions, instant balance transfers and enhanced live data points for liabilities. Method, a startup that aims to make it easier for fintech developers to embed repayment, balance transfers and bill pay automation into their apps, today announced that it closed a $16 million Series A funding round led by Andreessen Horowitz with participation from Y Combinator (Method a Y Combinator graduate), Abstract Ventures, SV Angel and others. Shah points out that there’s no standard, technically easy way to access all of a person’s financial liabilities — their student loans, credit cards, mortgages and so on — and push money to those liabilities.