Consumers have been adopting fintech solutions at an increasing rate. In fact, according to a Harris Poll conducted in conjunction with Plaid, the number of US consumers using fintech grew by 30 points last year to 88 percent.
The advent of open banking has enabled the flow of data from financial institutions into the fintech ecosystem. However, it’s not a one way street—that data is also enabling banks to gain a more complete picture of consumers.
In this episode, Raja Chakravorti, Head of Financial Access at Plaid, explains how this multi-directional flow of consumer data is moving the financial industry towards a world of interoperable financial solutions.
- How Plaid is unlocking financial freedom for all
- The evolution of open finance and open banking
- How banks benefit from a multi-directional flow of financial data
- The shift from data as the advantage to using data to improve the customer/member experience
To hear more from Leaders in Lending, check us out on Apple Podcasts, Spotify, or on our website.
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