Plaid Exchange is the industry’s first open finance platform, the company said. It gives banks, wealth managers, and FinTechs a way to offer stable solutions to connect accounts to apps and services. Since launching in May, Plaid said they have discovered that many FIs need technical support in order to integrate the platform. The tie-up gives Jack Henry customers access to the Plaid network and provides extra security to the 350-plus financial institutions using Jack Henry’s Banno digital platform.
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Plaid teams with Jack Henry to bring Plaid Exchange to banks
“We developed Plaid Exchange to make open finance as simple as possible for financial institutions — no matter their size,” Niko Karvounis, Plaid head of product, institutions said in a statement on Tuesday (Nov. 24). “Our partnership with Jack Henry helps us bring Plaid Exchange to hundreds of regional and community banks, and helps ensure millions of people can access digital finance apps and services no matter where they choose to bank, invest and manage their money,” Karvounis added.
