Plaid launches in the U.K. But Who are They?
Plaid is focused on democratizing financial services through technology. They build beautiful consumer experiences, developer-friendly infrastructure, and intelligent tools that give everyone the ability to create amazing products that solve big problems.
THE BUSINESS MODEL
PLAID started out by building the technical infrastructure APIs that connect consumers, traditional financial institutions, and developers.
The company provides a kind of “connective tissue between financial companies linking firms like PayPal-owned payment service Venmo with consumer bank accounts, and says its software is integrated with more than 15,000 US banks”, according to MSN.com
Today, they managed to add key insights to the data access they provide with a suite of analytics products. Plaid works with leading innovators and businesses in the US and Canada and willing to empower even more developers in Europe, starting with the UK. They address early stage startup or a larger fintech.
PLAID products make it possible to mitigate risk, prevent fraud, reduce friction, and process transactions more easily.