Integration with Plaid’s open finance tool Core Exchange will allow Wise users to connect their Wise USD local account to thousands of other financial apps
Plaid & Wise made an open finance agreement. Source: transferwise.com
Money transfer service Wise and payments processing company Plaid have struck an open finance deal, as reported by Finextra. The agreement will help 13 million Wise customers move money across different financial institutions (FIs) and connect their accounts to 6000 apps.
Integration with Plaid’s open finance tool Core Exchange will allow Wise users to connect their Wise USD local account to thousands of other financial apps – including Venmo, Truebill and Chime.
The feature is already deployed. It might be used for P2P payments and investment platforms. Thus, business customers in the US are using it to send funds to payroll companies, whereas firms globally are connecting to neobanks, paying credit card bills and taxes.
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