Sunday, May 28, 2023
HomeNewsPlaid deal lets Estonian fintech unicorn Wise's customers connect accounts to 6000...

Plaid deal lets Estonian fintech unicorn Wise’s customers connect accounts to 6000 apps

Wise has struck an open finance agreement with Plaid that will enable Wise’s 13 million customers to connect their accounts to thousands of apps.

Based on Plaid’s open finance tool Core Exchange, the arrangement means that people can connect their Wise USD local account to thousands of other apps – including Venmo, Truebill and Chime – to easily move money back and forth.

The integration is already live and being used for things such as P2P payments and investment platforms, says Wise. Business customers in the US are using it to send funds to payroll companies, and firms globally are connecting to neobanks, as well as paying credit card bills and paying tax.

Sharon Ann Kean, senior director, global expansion, Wise, 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, adds:

“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.”

Chris Crespo
Chris Crespo
Chris is a Co-founder and Chief Editor at Nordic Fintech Magazine, where he simplifies complex financial concepts through jargon-free content, making it easy for anyone to understand. With extensive experience in financial services, including working with some of Europe's largest banks, he brings a wealth of knowledge and insight into the industry. As the former Chief Futurist of the largest bank in the Nordics, Chris has a deep understanding of the Future of Financial Services, the Future of Money, Disruption, and Ethical AI in Finance. He is also a guest lecturer at Stanford University, where he shares his expertise on these topics. As a Behavioural Economist, Chris is passionate about exploring the connections between human behaviour and decision-making under risk, as well as uncovering and communicating the links between psychology, leadership, and technology in financial services.