Finastra & Plaid give users streamlined access to FinTech apps

By Gloria Methri

Finastra has announced that Plaid, the open finance provider is now integrated with its Fusion Digital Banking platform. The partnership, delivered via FusionFabric.cloud open APIs, provides financial institutions of all sizes within the Finastra ecosystem.

The account verification tools will make it easier and more secure for consumers to link data from their main financial institution with external financial apps and services.

Fusion Digital Banking adapts to advances in open finance, allowing banks and credit unions to deliver personalized experiences that customers rely on. Recognizing that many account holders utilize various applications to manage their finances, the Plaid integration helps these institutions meet these customer demands.

Through Plaid’s API technology, Fusion Digital Banking financial institutions can increase efficiencies and move to credentials integrations, adding a distinct layer of security. It also ensures more reliable connections for customers who have permission their accounts to Plaid-powered applications.

“Plaid is committed to ensuring that any financial institution, regardless of size, type, or technical readiness, can enable their account holders to permission data via API connections,” said Aly Yarris, Financial Access Partnerships at Plaid. “By partnering with Finastra’s growing ecosystem, we are excited to help even more financial institutions give their customers the tools they need to securely and reliably access the fintech apps they rely on every day.”

Narendra Mistry, Chief Product Officer, of Universal Banking at Finastra said, “As the world continues to embrace open finance, it is critical that we deliver the services community banks, credit unions, and all financial institutions need to make it simpler and easier for their customers to connect the various pieces of their financial picture. We are pleased that the more than 200 financial institutions offering Fusion Digital Banking can now give their account holders reliable and secure access to thousands of Plaid-powered FinTech apps.”