Plaid: Launches Plaid Exchange to help banks manage their API
- Plaid mostly known for its range of APIs that let developers access banking information
- The company wants to help financial institutions directly so they can build and maintain an API that other developers can use
- An API is an interface that lets two services interact with each other
- If you’ve used Venmo, Betterment, Square’s Cash App or Robinhood, chances are you’ve interacted with Plaid
- Plaid has built a universal API that also connects with thousands of financial institutions
- And the ability to connect to thousands of banks with the same API is valuable on its own
