U.S. fintech Plaid announced earlier this week it is now powering Microsoft’s Money in Excel experience. Plaid reported that Money in Excel features a Plaid integration and the capabilities essentially turn the spreadsheet software into a fintech app.
Plaid also revealed that the new experience also allows users to securely connect their financial accounts, import the data within them, sync balances and transactions over time, and gain greater insights into their financial health. Plaid further explained:
“Plaid provides the permissioned connection to financial accounts via Plaid Link from directly within the Microsoft Money in Excel experience. After linking their account(s), the individual will have access to their balance and transaction history, providing an up-to-date and holistic financial picture. Plaid connects to 11,000 institutions across the U.S., Canada, and Europe. In the U.S., Plaid supports nearly every institution from the major retail banks to community credit unions.”
The collaboration with Microsoft comes a few months after Plaid was acquired by Visa. The duo 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. Along with the acquisition, Plaid also recently announced it is now offering support to financial institutions in the Netherlands as well as opening a new office in Amsterdam.