OPEN FINANCE
Open finance made easy with secure, API-based data sharing
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Data partners using this solution
The Problem
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
The Solution
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
90%
of consumers want greater control over their financial data
80%
of consumers use some type of digital financial tool, with adoption consistent across income and demographic groups
69%
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
Core Exchange enables your organization to easily build and execute an industry-aligned implementation of the Financial Data Exchange API specification
6K +
Over 6,000 data partners have access to API based data connectivity via Plaid’s Data Connectivity solutions
90%
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)
8000+
Connectivity with the over 8,000 apps and services in Plaid’s network
Thought Leadership
Trends impacting the digital financial ecosystem
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.