CUSTOMER: PENNY FINANCE

How Penny Finance is helping close the wealth gap

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Goal

Connect users' bank accounts, make financial wellness accessible

Region

United States

Industry

Personal Finance

Turning clarity into confidence

Penny Finance is on a mission to make financial wellness inclusive, accessible, and actionable—particularly for women and underserved communities who’ve long been left behind by traditional financial planning. The fintech platform helps individuals understand their money and make informed decisions through tailored financial plans that meet people where they are. But to deliver advice that’s truly personal, Penny needed access to real-time financial data.

By using Plaid, Penny is now making it easier than ever for individuals to take confident steps toward their financial goals.

“Understanding your finances is hard—and that’s exactly why Penny exists: to demystify money and give people a clear view of where they stand and how to reach their goals. The only way we can do that effectively is with real-time visibility into our members’ financial lives. Plaid makes it possible to connect the dots between someone’s current financial reality, their goals, and the solutions to help them get there.”

Crissi Cole

Co-Founder and CEO, Penny Finance

Problem: For many people, managing their finances feels like a full-time job. From tracking down the interest rates on a dozen student loans to trying to understand if a 401(k) is actually invested, getting a clear picture of one’s financial life often means digging through statements, spreadsheets, and confusion.

Solution: Penny simplifies that complexity by having members use Plaid to connect their financial accounts directly to Penny. With secure access to raw, real-time data, Penny eliminates the need for manual entry or guesswork—whether it’s identifying which accounts are Roth or how balances are allocated. And with Plaid’s expanding suite of data products—from personal finance categories to credit planning—Penny can go beyond reporting and take a more proactive role in guiding each member’s financial journey.

Key Results:

61% of Penny’s members check in on their financial plans each and every week.
30% of members return to their financial institution, and 7% go on to open a new account or take out a loan—directly influenced by Penny’s Plaid-powered recommendations.