PNC Financial Services Group and Plaid have recently forged a bilateral data access agreement.
This collaboration will allow PNC customers across the United States to securely and safely share their financial data with their preferred financial applications via Plaid.
PNC, a prominent diversified financial services institution in the U.S., utilizes Akoya as its API service provider to facilitate the secure transfer of customer financial information to all data recipients.
The purpose of this partnership is to enhance the security and privacy of customer data as it moves between PNC and third-party financial applications supported by Plaid. This arrangement aims to eliminate the need for customers to share their login credentials directly with third parties, thus improving overall data control and security.
PNC executive vice president, Digital and Payments Natalie Talpas said, “Through this new partnership with Plaid, PNC customers will be able to achieve greater data security, privacy, and control while using the third-party financial apps and services they enjoy.
“PNC’s use of its Akoya-provided API allows for all data recipients, including Plaid, to get connected fast, while also enabling customers to reliably control what financial data they are permissioning without having to share their login credentials with third parties.”
Plaid head of Open Finance Partnerships Christy Sunquist added, “We are pleased to have reached a data access agreement with PNC that further supports their customers securely connecting to applications and services powered by Plaid.
“Moving the industry away from credential-based access is a top priority for Plaid, and our alignment on key principles around security, access and control played a definitive role in establishing this partnership. We look forward to future collaboration for many years to come.”
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