Skyflow Teams Up with Plaid to Help Fintechs “Prioritize” Privacy, Global Data Protection

Skyflow recently announced a partnership with Plaid, a data network that powers the tools millions of people “rely on to live healthier financial lives.”

The partnership will make it easier for developers “to build applications with data privacy infrastructure via a simple API.”

This brings together Plaid‘s network of over 12,000 financial institutions with Skyflow’s unique Data Privacy Vault offering, “making it easy for customers to build powerful fintech applications with best-of-breed data privacy, security, and compliance.”

Together with Skyflow’s and Plaid’s developer-first approaches to digital finance and privacy, customers can “focus on building, bringing to market, and scaling their core products.”

With Plaid, Fintechs can “enable their users to seamlessly connect their financial accounts to share financial data.”

The resulting influx of PII that “enable Fintechs to provide services to their users also presents a new task: how to protect and store that sensitive information.”

This partnership between Skyflow and Plaid “offers a simple solution.”

As a Plaid data privacy solutions partner, Skyflow will “offer pre-built connections to Plaid products and a predefined vault schema for Plaid customers.”

With this schema, developers and users can “know that the accessed financial data via Plaid will be securely stored in the Skyflow Data Privacy Vault.”

Designed by developers for developers, Skyflow makes it easy “to implement a world-class approach to data privacy without sacrificing usability or a ton of resources.”

Skyflow also has existing infrastructure in place “to support a number of partners in the Plaid ecosystem, including pre-built integrations with Visa, Moov, Marqeta and more.”

Anshu Sharma, CEO of Skyflow, stated:

“Plaid and Skyflow have a similar goal of providing developers the tools they need to bring their products to market quickly, without spending time and resources on vital but ancillary functionality. Helping keep financial data secure is more important than ever, and building privacy infrastructure from scratch has traditionally been really complex. This custom integration will make the implementation of Plaid and Skyflow easier than ever for developers.”

Paul Williamson, Head of Revenue at Plaid, remarked:

“Security is a pillar of Plaid. It is at the heart of every app and service we power. Partners like Skyflow enhance the security of the fintech ecosystem. Through this partnership, Plaid customers and developers can continue to build financial products knowing the data they access is stored safely and securely.”

As noted in the update shared with CI, Skyflow “offers the first zero-trust Data Privacy Vault delivered as an API, and just last month, Skyflow achieved Level 1 PCI compliance.”

It can be deployed quickly and “provides a complete, customizable solution for Compliance, Data Security, Governance, Global Data Residency, Secure Data Sharing and Analytics, and Encryption/Tokenization.”

Skyflow’s Data Privacy Vault “supports modern financial services” use cases, including:

  • Customer Onboarding
  • Customer Data Management
  • Money Movement
  • Card Issuance and Acceptance

Established in 2019, Skyflow is “a data privacy vault for sensitive data. Our founders wanted to radically transform how businesses handle their users’ financial, healthcare and other personal data — the data that powers the digital economy.”

Inspired by the data vaults that leaders like Apple and Netflix built to handle customer data, their vision was “to deliver the same kind of data privacy vault as a simple and elegant API, something any developer could easily build into their application, the same way they use Stripe, Twilio, or Okta.”

Skyflow is “based in Palo Alto, California, with offices in Bangalore, India.”

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