Transforming Secure Data Sharing: PNC and Plaid Unite in Innovative Partnership

Transforming Secure Data Sharing: PNC and Plaid Unite in Innovative Partnership

PNC Financial Services Group has recently announced a strategic partnership with Plaid, aiming to enhance secure data sharing for customers across the United States. This agreement allows PNC customers to safely share their financial information with various financial applications through Plaid, a recognized leader in financial technology.

Details of the PNC and Plaid Collaboration

The collaboration between PNC, a major diversified financial services provider, and Plaid focuses on utilizing Akoya as the API service provider. This setup facilitates secure data transfers for customer financial information to all authorized data recipients.

Enhancing Security and Privacy

The primary goal of this partnership is to boost the security and privacy of customer data. This initiative eliminates the need for customers to disclose their login credentials to third parties, thereby improving their control over personal information. Key benefits of this partnership include:

  • Improved Data Security: Customers can securely connect to third-party applications without sharing sensitive login details.
  • Enhanced Privacy: The agreement focuses on protecting customer data throughout the transfer process.
  • Greater Control: Customers have the authority to manage what financial data they share.

Statements from Executives

PNC’s Executive Vice President of Digital and Payments, Natalie Talpas, emphasized the importance of this partnership by stating, “Through this new partnership with Plaid, PNC customers will be able to achieve greater data security, privacy, and control while enjoying the third-party financial apps and services they prefer.”

Similarly, Christy Sunquist, the Head of Open Finance Partnerships at Plaid, added, “We are pleased to have reached a data access agreement with PNC that supports their customers in securely connecting to applications powered by Plaid. Moving the industry away from credential-based access is a top priority for Plaid.”

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Future of the Partnership

This collaboration sets the stage for ongoing efforts in enhancing financial security and customer trust. Both companies look forward to their continued partnership, which aims to innovate the financial services landscape.

For more information about PNC Financial Services and their initiatives, or to learn more about Plaid‘s services, visit their official websites.

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