Plaid is a leading open finance data network that connects consumers to more than 12,000 financial institutions and thousands of third party apps and services. As a part of our network, banks can partake in the seamless data sharing - backed with compliance and safety standards - that enable their customers to enjoy the apps and services they've come to rely on. With Plaid, community banks can take advantage of a broad set of products as they manage the digital demands of today’s banking system, ranging from API connectivity to data enrichment. Consumers expect their bank to support them wherever they choose to manage their finances online. With Plaid, you can tap the industry’s largest network of financial institutions, fintechs, and consumers so you can onboard new customers, reduce fraud, move money, make better decisions, and offer your customers better digital experience - ultimately increasing their lifetime value.
Open banking will require community banks to implement new practices and procedures to ensure their consumers’ data is protected and easily accessible.
Plaid’s solution to these requirements? Our no-cost open finance solution. It is designed to help you easily meet the industry's need for API connectivity and more visibility into consumer connections while simplifying compliance with regulation.
Our FDX-aligned solution offers:
API connectivity: Easily implement your API in a matter of weeks, with dedicated support from our expert team. Once you have your API in place, we have additional solutions to give you visibility into consumer and app-level connections.
Consent management: Gain visibility into the authorization details for connections your customers have made via Plaid, build a consent portal that enables customers to manage their connections, and receive real-time alerts.
App registration: Get insights about the thousands of apps on Plaid’s network that your customers have connected to, including categories and number of connections.
We already have partnerships with a number of digital banking platforms, including Jack Henry, Q2, FIS, Fiserv, and Alkami.
https://plaid.com/