Fintech Product Consultant | Product & Digital Strategy Leader | CPO | Advisor | Fintech Nerd
??????????: ?????????????????? ???????????????? ?????? ???????????? ???? ?????????????? ?? If you're as fascinated by the evolution of fintech as I am, you’ll want to dive into my latest article on This Week in Fintech. I take a close look at Plaid—a company that started by solving fundamental problems in financial data connectivity and has grown into a driving force behind innovation in fraud prevention, IDV, payments, lending, and beyond. ?? From its fascinating early pivot from a PFM app to an API-first financial data connectivity platform and the clever product tactics used to drive that pivot, Plaid has continuously redefined what it means to be a disrupter in the financial data data space. ???????? ???? ?? ?????????? ?????????? ?????????? ??????????????? It’s not just the technical infrastructure, although that is critical. It’s the depth of its product suite, the power of its network effect, and its ability to evolve alongside the needs of its clients—whether startups or, more recently, enterprise giants. Some of the key takeaways: ?? Plaid isn’t just solving problems today—it’s unlocking new opportunities in Open Finance, Embedded Finance, and (spoiler alert for my predictions for the future of Plaid) Digital Identity. ?? The rise of Pay-by-Bank and digitisation of checks in the U.S. signals a massive shift Plaid is perfectly positioned to capitalise on. ?? The embedding of the Network Effect in many of its products means that with every new connection, Plaid's products improve and it strengthens the foundation for a more integrated and accessible financial ecosystem. If you're interested in learning more about Plaid or just curious about what’s next in financial services, this one’s for you, and as you've come to expect with these write ups, it covers A LOT more than the above such as: ???? The Visa offer (with a Godfather reference) ???? A timeline of key events from 2013-Present ???? Their big 2024 releases ???? A deep dive on their product stack with a bespoke visualisation ???? An overview of the breadth of their customers ???? Plaid’s two biggest strengths: Product Depth & the Plaid Network ???? My predictions of their next big opportunities ?? Read the full article here: https://lnkd.in/ekX3YKAH Let me know your thoughts—Do want to see more deep dives like this one? Where do you think Plaid will innovate next? ???? Sandra M. Michael J. Marie Walker Leda Glyptis PhD Nicolas Pinto Ryan Wareham Panagiotis Kriaris Sanjeev Kumar #Fintech #OpenFinance #DigitalIdentity
incredibly well written piece Jas Shah
Nice one Jas. Has filled my payments nerd needs for the next week. Some thoughtful analysis ????
So why, in your opinion,, has it failed in the UK and EU where there's a solid regulatory framework for data and payments? Did they fail to grasp the push towards PIS too late? Classic cultural issue of a firm not understanding market dynamics outside of its home?
great read!
Great analysis Jas Shah. If there is one company that has benefited from the US market approach to open banking (which by the way is now changing), it is Plaid. Their expansion in adjacent areas is very well executed.
Open banking + invisible banking + tap to pay = The future of mobile payments. Plaid is banking and on open banking. IOW, new models avoiding the dreaded cc interchange fees are coming. Open and closed-loop payment systems are emerging with novel fintech technology. Open banking plus new rewards/perks models will disrupt the current CC rewards models.
Pivot! I've said it before and I'll say it again, the ability of a company to do this takes guts! Timing is everything, and listening to the market/your customers is too! An excellent article Jas. Am I the only person who in the early days had no clue how to pronounce Plaid? ?? Open everything - loved that section. And The Godfather reference is my favourite if you were asking! Some of the stats here are incredible - as I say an excellent read jam-packed full of insights and puns!
Leading transformation in financial services
4 个月Jas Shah solid article and write up here. For me the interesting pivot was from PFM to fully embracing the open API ecosystem and hence being in a position to benefit from open banking connectivity. They saw an opportunity early on and went for it. If open finance was fully embraced by now you could add many multiples to the company valuation.