Data partners using this solution
Consumers are increasingly demanding digital tools and services to better manage their financial lives. Whether it’s for budgeting, investing, paying a bill, or buying crypto currencies, they expect secure access across all of the fintech apps and services they use. To retain their place as a primary institution in their customers’ financial lives and stay ahead of shifting industry expectations, financial organizations need to enable reliable API data connectivity. However, building an open finance API program can be complex, costly and resource intensive
Plaid’s industry-leading Open Finance Solutions enable financial organizations to easily and efficiently meet consumer expectations for data connectivity and control. With Plaid Open Finance solutions, data partners - from the largest financial institutions to fintechs and digital banking platforms - can enable secure, credential-less data connectivity, transparency and control for their customers all while staying on top of industry trends. And, they're available at no cost
of consumers want greater control over their financial data
of consumers use some type of digital financial tool, with adoption consistent across income and demographic groups
of Americans said they “would consider switching banks if my primary bank could not connect to my financial account”
Plaid across open finance
Streamline API data connectivity to fintech apps
Core Exchange enables your organization to easily build and execute an industry-aligned implementation of the Financial Data Exchange API specification
Build customer trust with permission-based data privacy tools
Permissions Manager enables building your own permissions portal, empowering your customers to view and control the data they share with apps through Plaid in real time
Plaid Link’s embedded privacy panes allow consumers to easily see the data types being requested by a given app and permission the accounts they want to share
Plaid Portal offers a no lift option for greater consumer data transparency and oversight for your customers to view and control existing Plaid-powered connections with my.plaid.com
Industry leading coverage for top fintech use cases
Plaid works with over 12,000 institutions to provide connectivity to 7,000+ leading fintech apps.
We power the top fintech use cases, including 9 of the top 10 most downloaded fintech apps in the Android + App store use Plaid (from past 30 days as of May 9th, 2022).
Safe, secure, credential-less connectivity
API-based data connectivity eliminates credentials sharing, enabling your customers to permission data sharing safely and securely. Plaid never shares consumer financial data without their permission.
To keep data safe every step of the way, Plaid uses best-in-class encryption protocols, secure cloud infrastructure, multi-factor authentication, and around-the-clock monitoring to protect users’ data. Plaid’s program is designed to meet or exceed industry standards and is certified SOC 2, ISO 27001, and ISO 27701 compliant. Learn more about Plaid’s commitment to a safe data sharing ecosystem.
Improve connection health while reducing support tickets
With Plaid’s Data Connectivity solutions, MSUFCU unlocked data connectivity for over 8,000 members in the first eight months, improved connection health by 400% and reduced support tickets by 67%.
Trusted and seamless user experience
Today, 1 in 4 US consumers with a bank account have already used Plaid to connect their financial accounts.
Our familiar onboarding flow includes embedded privacy screens, so consumers can easily see the data types being requested by a given app and permission the accounts they want to share.
Over 2,000 data partners have access to API based data connectivity via Plaid’s Data Connectivity solutions
9 of the top 10 most downloaded fintech apps in the Android + App store use Plaid (from past 30 days as of May 9th, 2022)
Connectivity with the over 7,000 apps and services in Plaid’s network
Trends impacting the digital financial ecosystem
Data Infrastructure Whitepaper
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Meet the scale of consumer demand and future proof data access
Open Finance Whitepaper
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Learn more about open finance for financial institutions and their customers
Our members were looking for tools for financial wellness and also wanted to better understand how money was flowing in and out of their accounts and into their apps…we realized it wasn't sustainable for us to build everything ourselves. We've really worked at identifying the right partners.
Benjamin Maxim, Chief Digital Strategy & Innovation Officer, MSUFCU Read the full story