U.S. fintech Plaid recently announced it is now offering support to financial institutions in the Netherlands as well as opening a new office in Amsterdam. The company reported that the Netherlands is a hub for fintechs in Europe and is home to more than 400 fintech companies. This news comes just as countries all the world are dealing with the COVID-19 pandemic, which the Netherlands currently has more than 1,100 cases.
To support the country’s fintech developers, Plaid has built integrations with various financial institutions, including ING, Rabobank, and ABN Amro. Through these new integrations, developers may now use various features, including Transactions, Identity, Auth, Balance, and Assets, to provide services that they need. Speaking about the expansion, the Plaid team stated:
“Similar to how fintech emerged from the 2008 global financial crisis, we hope that Plaid can serve as a platform for new innovations to emerge in this trying time for us all. For existing customers, we’ve made it easy for you to expand to the Netherlands through your existing Plaid integration.”
Founded in 2012, Plaid stated it is focused on enabling “innovation and democratizing” financial services through technology.
“We build beautiful consumer experiences, developer-friendly infrastructure, and intelligence tools that give everyone the ability to create amazing products that solve big problems.”
The Netherland’s launch comes just a few months after Plaid announced it was acquired by Visa. The companies both revealed that Visa will pay total purchase consideration of $5.3 billion through the acquisition. Visa also shared that Plaid’s products enable consumers to conveniently share their financial information with thousands of apps and services such as Acorns, Betterment, Chime, Transferwise and Venmo. Visa then noted its acquisition of Plaid represents both an entry into new businesses and complementary enhancements to Visa’s existing business.