U.S. fintech Plaid announced on Tuesday it has joined forces with Jack Henry to enable Plaid Exchange to more than 350 banks. Plaid launched Plaid Exchange, which is an open finance platform, this past May. It enables banks, wealth, managers, and fintech firms to offer a secure, reliable means for their customers to connect accounts to apps and services as well as provide the tools needed to manage and monitor the connections.
“The more than 350 institutions currently using Jack Henry’s Banno Digital Platform can give their account holders secure and reliable access to the thousands of Plaid-powered fintech apps they’ve come to rely on in their everyday financial lives. Further, the integration will maximize efficiency for participating financial institutions and can help ensure more reliable connections when consumers permission their accounts to Plaid-powered applications. It will also come at no cost to Banno clients.”
Plaid also announced the launch of the Plaid Exchange Partner Program, which began earlier this year with Plaid’s collbraotion with API management platform MuleSoft. The program notably welcomes organizations interested in enhancing the suite of capabilities they offer financial institutions by adding support for Plaid Exchange.