Plaid is a developer of a data network programming interface designed to allow consumers to connect popular financial technology applications with their traditional bank accounts. The company's platform accesses transactions and personal data like names, phone numbers, addresses and emails for each account from thousands of financial institutions, authenticating them and verifying information in real-time, enabling consumers and businesses to interact with their bank accounts, check balances, and make payments through financial technology applications.
Plaid's technology platform provides the tools and access for the development of a digitally-enabled financial system. Plaid feels their platform makes it easier and safer for developers to build financial services and applications. Plaid initially offered an API to help developers connect financial institutions to customers. They have since used their data access with a suite of data analytics products to provide business insights as well.
On January 13, 2020 Visa Inc agreed to buy Plaid for $5.3 million, which was estimated to be double their valuation after their previous Series C funding round from December 2018.
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- Cluster: Financial technologyA cluster of topics related to financial technology.
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