Driving Towards an Open Finance Future

Plaid, a company aiming for a fully digital financial system, has announced its partnership with Capital One and the successful migration to the Capital One API. This partnership is part of their commitment to make 75% of their traffic through APIs by the end of 2021. The goal is to create a credential-less ecosystem where consumers can control access to their financial data, including savings, mortgages, and investments. Plaid's integrations with major U.S. financial institutions are designed to ensure secure sharing of financial information with apps powered by Plaid. They also aim to help the industry meet consumer demand for digital finance through initiatives like Plaid Portal, where consumers can manage their account connections.