Green Dot and Plaid announced the integration of Plaid’s finance ecosystem into Green Dot’s GO2bank. The combination continues the development of open banking to meet customer needs. Tilly Kenyon with FinTech Magazine reported:
The partnership leverages Plaid’s innovative open finance API solution Plaid Exchange, which helps companies quickly and securely facilitate data connectivity on behalf of their customers.
“Plaid is working to ensure that inclusivity is the industry standard,” said Ginger Baker, Head of Financial Access for Plaid. “Our partnership with Green Dot helps GO2bank customers securely connect their accounts to the apps and services they choose. We are excited about the joint commitment to universal access and how it enables all populations to access the tools they need to lead healthier financial lives.””
The pairing provides GO2bank customers access to the full roster of apps powered by Plaid, enabling greater financial literacy especially for those in underserved communities, as Kenyon explains:
It also underscores how both companies are aligned in the mission to provide financial access and freedom for all, reaching consumers who may have been shut out of traditional banking services due to lower income levels or credit-thin histories.
Overview by Jordan Hirschfield, Director of Research at Mercator Advisory Group