Progress in open finance: An update from Plaid

Plaid, a leader in open finance initiatives, is working with financial institutions to simplify the transition to open banking by providing secure, scalable API solutions that enable seamless data sharing. The company's Open Finance Solution helps banks meet regulatory requirements and modernize infrastructure for data connectivity. Plaid has partnered with major institutions like American Express, Citi, and Navy Federal Credit Union, among others, to shift from screen scraping to more secure and reliable API connections. As the industry moves towards open finance, Plaid is committed to advocating for a fair financial ecosystem where consumers can share and control their financial data freely and securely.