Canadian fintech Mogo Finance Technology announced on Wednesday it is expanding its technology partnership with Plaid. Modo reported that it is using Plaid’s API technology to enable more convenient access to its products and help more users to gain control of their financial health.
While sharing more details about the partnership, David Feller, Mogo’s Founder and CEO, stated:
“As consumers continue to migrate to mobile solutions for banking, saving and investing, we are working hard to make Mogo the ‘go-to’ financial app for the next generation of Canadians. Today’s announcement is the next step in our plan to innovate and enhance our technology platform — both through significant in-house development and by leveraging great technology from companies like Plaid — while also expanding our offering by partnering with financial services companies that offer best-in-class financial products.”
Paul Williamson, Plaid’s Head of Sales, also commented:
“We’re excited to announce our partnership with Mogo today. Mogo has played a large role in building the fintech ecosystem in Canada, and it shares Plaid’s commitment to putting consumers in the driver’s seat when it comes to their financial lives.”
The expansion of the partnership with Plaid comes just after Mogo announced it opened more than 210,000 new member accounts in 2018, which brought its member base to approximately 756,000 on December 31st. Mogo claims it is a digital challenger to the banks in Canada and empowers consumers with solutions to help manage and control finances.