On The Web

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Companies

RBC and Plaid Announce Agreement to Bolster Client Security and Increase Connection to Financial Services Apps

June 15 2022

• in
• Plaid

“During a time when Canadians’ appetite for digital services continues to increase, RBC and Plaid are pleased to announce a new data access agreement that will empower RBC clients with the option to share their financial data securely via a direct application programming interface (API) with the thousands of apps and services of their choice […]

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Companies

Plaid Teams Up with Truework to Launch Income Verification Solution

June 1 2022

• in
• Plaid

“Income and employment verification company Truework has partnered with Plaid to help the firm launch its new Plaid Income product. Plaid Income will bring greater accuracy, security, and speed to the loan application process. Prospective borrowers will be able to share income and employment data digitally and instantly with their approved lenders. Plaid Income will provide faster approvals for loan applicants […]

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Companies

Fintech Firm Plaid Agrees to $58 Mln Deal to End Privacy Case

August 9 2021

• in
• Plaid

“Plaid Inc has agreed to pay $58 million to resolve consumers’ claims that the financial technology company obtained and used bank account credentials and financial information without consent. San Francisco-based Plaid also agreed in the nationwide settlement to change certain business practices, according to filings Thursday in California federal court made by lawyers for consumers.”

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Companies

Judge Narrows Privacy Case Against Fintech Firm Plaid

May 4 2021

• in
• Plaid

“Plaid Inc must face some claims in a consolidated proposed class action that accuses the financial technology company of obtaining and using consumers’ banking account credentials and financial information without consent. U.S. Magistrate Judge Donna Ryu in Oakland on Friday found the plaintiffs sufficiently allege invasion of privacy, violation of California’s anti-phishing law and other […]

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Companies

Plaid Valuation Tops $13 Billion in First Funding After a Scrapped $5.3 Billion Merger With Visa

April 8 2021

• in
• Plaid

“Fintech company Plaid raised a new round of capital that nearly triples its valuation a few months after a deal to be bought by Visa fell apart. The company announced a $425 million Series D funding round on Wednesday, led by Altimeter Capital with participation from new investors, Silver Lake and Ribbit Capital. Earlier investors Andreessen […]

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Companies

Plaid Is Said Close to Financing at About $13 Billion Valuation

April 5 2021

• in
• Plaid

“Financial-technology firm Plaid Inc. is close to a new round of funding at a valuation of about $13 billion, almost three months after scrapping its sale to Visa Inc., according to people familiar with the matter. The funding round will be led by Altimeter Capital , said the people, who asked not to be identified […]

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Companies

Plaid Plans to Double Europe Staff After Visa Deal Falls Through

January 19 2021

• in
• Plaid

“Financial-technology firm Plaid Inc. is planning to nearly double its size in Europe, focusing on expanding the business’s global reach after Visa Inc. ’s $5.3 billion acquisition fell through . Plaid will have about 80 employees in its London and Amsterdam offices by the end of 2021, up from 40 to 50 currently, Keith Grose, […]

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Companies

Visa’s Planned Purchase of Plaid Faces Antitrust Scrutiny at the Justice Department

October 27 2020

• in
• Antitrust
• Plaid
• Visa

“Visa Inc.’s $5.3 billion deal to buy a key player in the financial-technology space is in jeopardy because of antitrust concerns, according to people familiar with the matter. The Justice Department could decide soon whether it will sue to block Visa’s acquisition of Plaid Inc., a firm that provides the technological infrastructure underpinning an array […]

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Companies

Plaid Gives Lenders Access to Small Business Payroll Data to Speed Emergency Loan Approval

April 6 2020

• in
• Open banking
• Plaid

“Start-up Plaid is looking to solve a pain point in the emergency loan process: Access to payroll data.  Small businesses looking to survive the coronavirus slowdown are rushing to apply for emergency government loans. But as a part of that process, they need to download their payroll data and share it with their bank, who then needs […]

On The Wires

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Companies

Improving the Payments Experience in the UK | Plaid

May 10 2021

• in
• Plaid

“One year ago, we launched Payment Initiation in the UK, which included a new Payment Initiation experience in Plaid Link. Link is the fastest way to get started. It’s optimised for a seamless experience, and ensures your user experience benefits from the full Plaid platform. Since then, we’ve focused on improving the user experience for […]