Loquat, a financial technology company, has partnered with Plaid to develop a cloud banking platform for small businesses, consumers, and financial institution employees. The platform allows credit unions and community banks to implement digital banking features for consumer and small-to-medium business services, including onboarding, lending, and payments. Plaid provides users with optimized digital financial experiences through its Open Banking network and payments platform. The partnership enables consumers and SMBs to connect their financial accounts across multiple platforms, increasing usability and simplifying digital experiences. This integration allows financial institutions to offer secure account linking, access to real-time authorized financial data, and efficient financial management. Loquat representatives claim that the collaboration provides intuitive solutions that connect financial platforms, equipping users with the tools needed to manage their finances confidently.

February 19, 2025 //  by Finnovate