TD Bank Group and Intuit have reached a new data-access agreement that will allow customers to transfer their financial information to Intuit apps, the bank said in a news release.

Intuit created TurboTax, Mint, and Quickbooks. At the customer's request, TD will transfer financial information to these Intuit platforms by using Application Programming Interface (API). The technology may eliminate the need to provide TD login information to use third-party apps.

Using an API instead of having to login every time saves time for the user and makes it a simpler process, the news release said.

"We expect that customer enthusiasm for digital banking services will continue to grow as customers look for new ways to bank that meet their unique personal financial needs," says Rizwan Khalfan, TD Chief Digital and Payments Officer. "We want to be there for our customers and we have accelerated our work to leverage a market-developed technology solution to help increase the comfort level of customers looking to access digital services that are outside their bank." 

Intuit and TD are founding members of the Financial Data Exchange (FDX) which is U.S. based and works to find solutions to common consumer problems. FDX recently launched in Canada having the support of Canadian banks and several financial technology businesses.

TD has also recently invested in Akoya, "a new, US-based company that will operate an API-based network for a more secure way of sharing financial data," the news release said.

TD Bank Group, short for the Toronto-Dominion Bank, is headquartered in Toronto and is the sixth largest bank in North America, the company said.