Plaid and Wise move to deliver Open Finance promise

Wise has struck an Open Finance agreement with Plaid that will enable the former’s 13 million of customers to connect their accounts to thousands of apps.

The partnership will see Plaid deliver its Open Finance tool Core Exchange, that will see customers connect their Wise USD local account to thousands of other apps – including Venmo, Truebill and Chime.

The partnership is live and in market whilst it’s already being used for P2P payments and investment platforms.

Sharon Ann Kean, senior director, global expansion, says: “By working with Plaid, we’re giving customers the ability to connect their accounts to the apps and services they know and love in the US instantly and without hidden fees. As we build money without borders, our customers will continue to see deeper integrations in the market to ensure the Wise account meets the local functionality needed for American consumers.”

Raja Chakravorti, universal data access lead, Plaid, mentioned: “Delivering secure data connectivity solutions to consumers is central to our mission of unlocking financial freedom for everyone. Our Wise partnership ensures access, transparency, and control for millions of consumers to securely connect their accounts to the apps and services they choose.”