By Oliver Smith on Thursday 26 March 2020
European domination continues for Visa's newly-acquired open banking arm.
The country’s biggest financial institutions, including ING, Rabobank, and ABN Amro, are already on board with Plaid integrations.
“This time of crisis shows there is still much more work to do to make it possible for consumers to have full control over their finances and true portability,” said Plaid’s general manager for the UK, Keith Grose.
“To continue creating a more interconnected digital financial ecosystem across the world, today we’re announcing support for institutions in the Netherlands, as well as the opening of our second overseas office in Amsterdam.”
Plaid’s Amsterdam office is five-strong for now, but the company says it plans to build-out engineering, product, support, and go-to-market teams.
With its local partnerships in place, Plaid says it already has coverage of 90 per cent of consumer accounts in the Netherlands, perfect for developers looking to build open banking apps and services.
“Similar to how fintech emerged from the 2008 global financial crisis, we hope that Plaid can serve as a platform for new innovations to emerge in this trying time for us all,” added Grose.
The Netherlands is now Plaid’s fifth European market, with coverage already across the UK, France, Spain and Ireland.