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With the new partnership, customers of both firms can authenticate their end users’ bank accounts using Plaid and obtain tokens which provide fast, secure bank funding source verification through the DriveWealth API. This boosts the success rate for the Automated Clearing House, gives added visibility to transfers and guards customer information.
Bob Cortright, CEO of DriveWealth, adds that the partnership will allow anyone from “FinTechs and banks to investment advisors and RIAs to quickly and securely add investment capabilities to their current offerings through a simple API,” thus giving more consumers equal access to investing in American markets.
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