Payment processing giant Fiserv and data aggregation leader Plaid, have joined forces to enable secure and reliable data sharing through application programming interfaces (APIs), addressing the growing demand among consumers to access their financial information when and how they desire – through open banking architecture. Consumers using the nearly 3,000 bank and credit union clients hosted by Fiserv will gain secure, credentialless API-based connectivity to more than 8,000 applications and services on the Plaid network. The agreement is expected to significantly expand direct data sharing between financial institutions and the third-party apps used by their customers, emphasizing data privacy, consumer access, and choice in an open finance ecosystem.
Fiserv and Plaid to Revolutionize Secure Data Sharing for Financial Institutions and Consumers
