Green dot companya fintech and registered bank, announced its partnership with Plaidthe data network that powers the digital financial ecosystem, to bring secure open financial solutions to GO2bank customers.
GO2bank is Green Dot’s flagship digital bank, established in 2021, which is designed to empower everyone to bank seamlessly, affordably and with confidence.
“Our goal at Green Dot is to empower everyone to bank seamlessly, affordably and with confidence,” said Abhijit Chaudhary, product manager of Green Dot. “Through this partnership with Plaid, we are enabling real change in the industry by providing an on-ramp for consumers who can benefit from easy and secure access to digital solutions.”
Securely connect customer accounts
The companies have joined forces to bring GO2bank customers an API-based and token-based open funding experience that enables the data connectivity that today’s consumers expect. Partnership leverages Plaid’s innovative Open Funding API solution Plaid exchangethat helps businesses quickly and securely facilitate data connectivity on behalf of their customers.
“Plaid strives to make inclusiveness 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 shared commitment to universal access and how it enables all people to access the tools they need to lead healthier financial lives.
Building financial foundations
Plaid is a leading provider of open banking services at a time when the service has grown in importance in payments and other financial services. Open banking can be particularly useful for payment companies looking to facilitate the movement of money outside of established networks like Visa or Mastercard. For this reason, Visa Inc. and Mastercard Inc. decided to acquire open banking platforms.
GO2bank is designed to give everyone the tools and support they need to build a stronger financial foundation. The joint integration, which is now complete, connects GO2bank customers to more than 6,000 applications and services powered by Plaid. It also underscores how both companies are aligned with the mission of providing financial access and freedom for all, reaching consumers who may have been excluded from traditional banking services due to lower income levels or limited credit histories.