back Back

Current launches platform API; collaborates with Plaid to deliver Open Finance Solutions

By Edlyn Cardoza

May 20, 2022

  • API
  • Current
  • Digital Financial Ecosystem
Share

Current, Plaid, API, FinTech, Digital Financial Ecosystem, Digital Financial Tools, Digital Payments, Financial Planning, Plaid Link, Digital Financial Services, USACurrent, a leading U.S. financial technology platform serving Americans working to create a better future for themselves, recently announced the launch of its platform API, built to facilitate seamless integrations and embedded banking experiences. Plaid, the API-first data network powering the digital financial ecosystem, is the first-ever partner and will provide Current members access to a credential-less open finance experience.

Current’s platform API enables other FinTechs to build embedded experiences, making this a groundbreaking integration that opens the door for countless additional opportunities. As the first partner to integrate, Plaid will provide Current’s nearly four million members expanded access to innovative digital financial tools and solutions to help them manage their money seamlessly and securely and provide them access to more experiences that can improve their financial outcomes.

“Our new platform API gives open banking partners the capability to embed our core banking technology. We’re thrilled to be working with Plaid, the industry leader in open banking, as our first partner,” said Trevor Marshall, Chief Technology Officer at Current. “We enabled this integration in response to feedback from our members. With Plaid, our members can access experiences that can help improve their financial lives with control and security.”

Current members can now easily connect their accounts to thousands of other FinTech apps, including digital payments, financial planning, and investment tools, on the Plaid network. The rapid integration was made possible by Current’s API and leverages phone number and device authentication, eliminating reliance on banking credentials from the ecosystem and providing a frictionless customer experience.

Current is one of the most requested FinTech apps when users connect their accounts to digital financial services in Plaid Link. Current chose Plaid as its first API partner because of its strong industry reputation as being a secure, reliable open finance leader that has built integrations with more than 12,000 financial institutions, including Neobanks and FinTechs.

“Millions of Current members will now have secure access to the more than 6,000 apps and services powered by the Plaid network through our open finance partnership,” said Raja Chakravorti, Partnerships Lead, Universal Access at Plaid. “We’re thrilled to enable a simple, secure on-ramp to digital financial services for Current members, who are often banking for the first time in their lives. The integration ensures that consumers are in control of where and how their financial data is permissioned and shared, information that is essential to setting up a healthy financial life.”

Previous Article

May 20, 2022

RBL Bank team ups with Amazon Pay to offer UPI Payment Services

Read More
Next Article

May 20, 2022

MarketFinance raises £100m from Deutsche Bank to support new lending to the UK SMEs

Read More







Advertise with us



IBSi Daily News Analysis

financial organisation, Big data

July 05, 2022

API

Here’s why web scraping will become huge for FS next year

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 05, 2022

Paytrail and Mastercard empower millions of Open Banking payments in the eCommerce landscape

Read More

July 05, 2022

Tarabut Gateway announces new key senior appointments

Read More

July 05, 2022

FintechOS partners with Huddl Team to deliver innovative technology solutions for UK building societies

Read More

Related Reports

Sales League Table Report 2022

£ 1,500.00 / year

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022