Green Dot Teams With Plaid for Expanded GO2banking

FinTech and bank holding company Green Dot Corporation is teaming up with payment authentication gateway Plaid to deliver secure and open finance solutions to Green Dot’s GO2bank customers.

Green Dot’s flagship digital bank GO2bank was introduced last year to make financial services available to everyone, especially those who are sidelined from traditional banking services due to low income, poor credit or thin credit histories. It was particularly created to meet the needs of people living paycheck to paycheck as well as gig workers and small business owners. 

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“Our focus at Green Dot is giving all people the power to bank seamlessly, affordably and with confidence,” said Abhijit Chaudhary, chief product officer of Green Dot. “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.”

With Plaid, Green Dot can provide its GO2bank customers with an API token-based open finance experience that enables the “data connectivity that today’s consumers expect,” according to a press release on Tuesday (March 15). 

Plaid’s open finance API solution Plaid Exchange offers a fast, safe way for companies like Green Dot to facilitate data connectivity on behalf of their customers. The joint integration also links GO2bank users with Plaid’s more than 6,000 apps and services. Both Plaid and Green Dot are committed to helping ensure financial products are available to all. 

“Plaid is working to ensure that inclusivity is the industry standard,” said Ginger Baker, head of financial access for Plaid. “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.”

Green Dot was founded in 1999 and has directly served more than 33 million people through its network of more than 90,000 retail locations across the country. GO2bank offers checking, high-interest savings and opportunities to build credit.