Plaid, a financial services company, is now available in 8 markets. It recently added open banking capabilities for Spain and Poland and data connectivity for Germany, building on recent launches earlier this year in the Netherlands, Ireland and Italy. The company will also launch shortly in Sweden, Denmark, Norway, Lithuania, Latvia and Estonia.

In addition, they have expanded their ecosystem of payment partners to include two new payment service providers: Norbr and GlobePay. These two new partners incorporate Plaid's open banking technology to make it easy for people to transact online, directly from their bank accounts, using locally preferred methods:

• Norbr, a next-generation payment orchestration layer for e-commerce businesses, will incorporate Plaid's open banking payment startup technology to add open banking payments as a payment option at checkout.
• Lastly, GlobePay, a PSP that offers cross-border online payments, will now offer open bank payments as an option for businesses to receive payments, right next to WeChat Pay and Alipay.

Expanding our geographic coverage

In addition to incorporating PIS into the digital financial ecosystem, they are building geographic coverage to offer open banking payment and data services across Europe. They recently added open banking payment capabilities for Spain and Poland and data connectivity for Germany.

They are always looking for new ways to meet local needs and offer the paid journeys people are already used to as they transition to digital finance. As such, in Spain, they offer an app-to-app experience, where users are automatically redirected to their mobile banking app to authenticate and authorize access to their account details or to initiate payments from the account. This creates a seamless customer experience and helps increase conversion on mobile streams.

Expanded coverage has enabled companies like Kraken to offer easier and faster account onboarding and funding experiences across Europe. In these markets and all the others they cover, they ensure coverage of at least 90% of commercial and consumer accounts, often covering more than 99%. Stay tuned for further coverage expansion with Sweden, Denmark, Norway, Lithuania, Latvia, and Estonia coming soon!

If you are interested in working with Plaid or one of our partners to offer a more localized experience for moving money in the digital financial ecosystem, please contact our team.