Finastra & Plaid team to provide users with 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, brings financial institutions of all sizes within the Finastra ecosystem.

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

Fusion Digital Banking adapts to advances in open finance, enabling banks and credit unions to deliver personalized experiences that customers trust. The Plaid integration recognizes that many account holders use various applications to manage their finances, and helps these institutions meet these customer demands.

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

“Plaid is committed to ensuring that any financial institution, regardless of size, type or technical readiness, can enable account holders to authorize data via API connections,” said Aly Yarris, Financial Access Partnerships at Plaid. “By partnering with Finastra’s growing ecosystem, we’re 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, Universal Banking on 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 easier and easier for their customers to connect the different parts of their financial picture. We are delighted that the more than 200 financial institutions that offer Fusion Digital Banking can now provide their account holders with reliable and secure access to thousands of Plaid-powered FinTech apps.”