Over the past decade, a strong foundation of consumer financial data rights have underpinned an open finance ecosystem “that drives competition, choice, and inclusion for hundreds of millions of people today.” This, according to an extensive update from Plaid. Plaid noted in a blog post… Read More
Read more in: Fintech, Global | Tagged Anand Selva, fintech trends, open banking, open finance, plaid, zach perret
Plaid, a leader in open banking technology, is the next Fintech to reduce its staff due to a slumping economy. In a team update, Plaid founder and CEO Zach Perret announced the company was reducing its headcount by 260 positions. Offices around the world were… Read More
Read more in: Fintech, Global | Tagged employment, open banking, plaid, zach perret
This past week, Stripe announced an open banking (or open finance) initiative with Stripe Financial Connections. Stripe laid out its plans explaining they were “enabling businesses to establish direct connections with their customers’ bank accounts that power a wide range of financial processes.” This is… Read More
Read more in: Fintech | Tagged open banking, open finance, plaid, stripe, zach perret
Plaid has acquired Cognito, a firm that provides ID verification including anti-money laundering (AML) and know your customer (KYC) services. Plaid has emerged as a key open banking platform connecting top Fintech and traditional financial services firms around the world. Plaid said that Cognito was… Read More
Read more in: Fintech, Global | Tagged open banking, plaid, zach perret
Plaid has announced a significant funding round raising $425 million in a Series D round. It has been rumored for some time that Plaid, a leader in the open banking sector, was raising new capital. New investors Altimeter Capital, Silver Lake, and Ribbit Capital joined… Read More
Read more in: Fintech, Global | Tagged open banking, plaid, william hockey, zach perret
Fintech firm Plaid is reportedly planning to more than double its Europe-based workforce in 2021, despite having to back out of a potential deal to be acquired by payments giant Visa (due to US antitrust issues). The financial technology firm appears to be taking the… Read More
Read more in: Fintech, Global, Strategy | Tagged europe, fintech trends, keith grose, london, open banking, plaid, uk, united kingdom, united states, us, visa, zach perret
The US Department of Justice has announced that Visa’s acquisition of Plaid, an open banking Fintech, has been called off. The decision to abandon the $5.3 billion acquisition was due to a civil antitrust lawsuit filed on Nov. 5, 2020, to stop the merger. The DOJ… Read More
Read more in: Fintech, Politics, Legal & Regulation | Tagged open banking, plaid, us department of justice, visa, zach perret
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