American fintech and bank holding firm Green Dot has formed an alliance with Plaid to offer open banking services to its GO2bank customers.
The partnership, which leverages Plaid’s open finance API solution Plaid Exchange, is aimed at offering consumers an API-based, token-based open finance experience.
Launched last year, GO2bank is Green Dot’s flagship digital bank aimed at customers who are living paycheck-to-paycheck such as gig workers, low-income customers and small business owners.
Plaid Exchange enables firms to facilitate data connectivity on behalf of their customers, allowing GO2bank customers to access over 6,000 apps and services backed by Plaid.
Green Dot chief product officer Abhijit Chaudhary said: “Our focus at Green Dot is giving all people the power to bank seamlessly, affordably, and with confidence.
“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 head of financial access Ginger Baker said: “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.”
Founded in 1999, Green Dot claims to have directly served over 33 million customers via its network of more than 90,000 retail locations across the US.