back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Green Dot and Plaid partner to provide open finance solutions to GO2bank customers

By Edlyn Cardoza

March 16, 2022

  • API
  • Digital Financial Ecosystem
  • Financial Access
Share

Green Dot Corporation, Plaid, Digital Financial Ecosystem, Open Finance Solutions, GO2bank, API, Plaid Exchange, USAGreen Dot Corporation recently announced it is partnering with Plaid, the data network powering the digital financial ecosystem, to bring secure open finance solutions to GO2bank customers. Launched in 2021, GO2bank is Green Dot’s flagship digital bank designed to give all people the power to bank seamlessly, affordably and with confidence.

The companies joined forces to offer GO2bank customers an API-based, token-based open finance experience enabling the data connectivity that today’s consumers expect. 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.

Ensuring all consumers have access to modern financial tools has never been critical. It is estimated that 10% of Americans are unbanked, and about 25% are underbanked, meaning they lack a checking or savings account or have one but use alternative (and often predatory) financial solutions. Data shows that most consumers feel more confident about their finances when using FinTech, creating even more demand for digital platforms with secure open finance solutions.

The joint integration, which is now complete, connects GO2bank customers with more than 6,000 apps and services powered by Plaid. 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.

“Our focus at Green Dot is giving all people the power to bank seamlessly, affordably, and with confidence,” said Abhijit Chaudhary, Chief Product Officer of Green Dot. “Through this partnership with Plaid, we are enabling real change in the industry by delivering an on-ramp for consumers who can benefit from simple, secure access to digital solutions.”

“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.”

GO2bank is designed to give all people the tools and support they need to build a stronger financial foundation. GO2bank is built for the many millions of Americans living paycheck to paycheck – including lower-income consumers, gig workers, small business owners, and more – who stand to benefit most from seamless, affordable, and useful banking and payments tools designed for their unique challenges and needs.

GO2bank’s easy-to-use mobile app helps customers build confidence and control in how they manage their money with up to $200 overdraft protection, high-value rewards, high-interest savings, and opportunities to establish, build, and track credit, regardless of credit history. GO2bank also features low or no monthly fees, easy access to more than 90,000 retail locations nationwide to deposit money quickly and conveniently, and the ability to get paid up to two days early (or up to four days early for government benefits).

Previous Article

March 16, 2022

UAE and Mauritius sign MoU to enhance Central Bank co-operation

Read More
Next Article

March 16, 2022

WorldFirst and RITMO launch a £100m growth package for e-commerce businesses

Read More










IBSi Daily News Analysis

September 30, 2022

API

Is sustainable/green finance needed more than ever before?

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

September 30, 2022

Wio signs partnership agreement with Meydan Free Zone

Read More

September 30, 2022

Verity goes live with financial literacy app for kids in the UAE

Read More

September 30, 2022

Newtek selects Apiture’s digital banking platform to power Newtek Bank

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£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