“Plaid got its start as a company that connects consumer bank accounts to financial applications. It has since been gradually expanding its offerings to offer more of a full-stack onboarding experience. The company was almost acquired by Visa for $5 billion before antitrust regulators shut that deal down. Plaid went on to raise funding at…
Tag: Plaid
Banks Take Another Bite At The Apple With EWS Wallet
“The most significant danger to enabling such a transition is not Apple or Paypal but Plaid. The emergence of open banking and the drive for banks to expose consumer data to authorized parties enabled a whole new breed of companies. These companies can leverage bank APIs and existing ACH or RTP functionality to verify that…
Fintech Roundup: Banks beginning to view fintechs as frenemies
“As part of its efforts to stay on top of all things digital, Truist opened a 100,000-square-foot innovation and tech center. Some of the things the bank is getting serious about, according to Case, are cloud architecture, data and analytics. It’s even built an “API toolkit and playbook” that he describes as “very important” to…
Visa is acquiring Plaid for $5.3 billion, 2x its final private valuation
“Plaid develops financial services APIs. It is akin to what Stripe does for payments, but instead of facilitating payments, it helps developers share banking and other financial information more easily. It’s the kind of service that makes sense for a company like Visa.” https://www.google.com/amp/s/techcrunch.com/2020/01/13/visa-is-acquiring-plaid-for-5-3-billion-2x-its-final-private-valuation/amp/ Image Credits: Sarah Wardlaw / Unsplash
The Growing Impact of AI in Financial Services: Six Examples
“1. AI and Credit Decisions Automobile lending companies in the U.S. have reported success with AI for their needs as well. For example, this report shows that bringing AI on board cut losses by 23% annually. 2. AI and Risk Management A US leasing company, Crest Financial, employed artificial intelligence on the Amazon Web Services…