Plaid Exchange Integration with Automated Systems' Digital Banking Platform

Automated Systems, Inc. (ASI) has announced their integration with Plaid Exchange, a data network powering over 3,000 fintech apps and services, such as Venmo, Acorns, Digit, and YNAB. Using Plaid Exchange, a token-based Application Programming Interface (API), within the ASI digital banking platform will enable your customers to easily and securely connect their financial accounts to the apps they choose. By allowing your customers to benefit from open finance banking, your community bank will remain the center of your customers’ financial relationships.

Customer Benefits of Plaid Exchange

Connect Effortlessly: Plaid lets customers connect their financial accounts easily and securely to other apps they choose to manage their finances.
Control: Financial accounts are only connected through customer permission.
Easy and Secure Data Sharing: When your customers choose to connect their financial account with an app, Plaid works to transfer the data securely.
Connections Dashboard: The dashboard gives your customers visibility into, and control over, the app connections they permissioned through Plaid.
Micro Deposits vs. Instant Verification: No need for small deposits to become a verified user. Verification takes less than 10 seconds instead of multiple days for micro deposits. By allowing customers instant verification, customer adoption increases substantially.

Financial Institution Benefits of Plaid Exchange (Open Finance)

Community Banking with Perks: With Plaid Exchange, community banks compete effectively with larger banks by offering the connectivity customers increasingly require while maintaining their trusted bank provider relationship. Customers can safely connect their community bank account to leading financial apps and services, giving them full control of their financial lives.
One Integration with Multiple Benefits: Plaid builds and maintains the Plaid Exchange API, making it a seamless solution that financial institutions can integrate with in order to unlock secure and reliable connectivity on behalf of their customers.
Establish Token-Based API Connectivity: Plaid Exchange enables users to securely connect their bank account with the 3000+ apps on the Plaid network using token-based authentication.
Customer Retention: Retain younger customers by providing secure tools and services from trusted partners.
Control Center: Through Plaid Exchange, a control center gives your customers more visibility and enhanced control over how their financial information is shared and where their accounts are connected.

Next Steps

Contact the ASI sales team to get additional information and to enable Plaid Exchange for your customers. Your financial institution must be registered with Plaid and have a secure authentication created. An update to your digital banking platform is also required. New configuration settings are implemented and a new permission is enabled, allowing you to select which users will have the Plaid Connections options under the User Settings menu. For more details, please contact an ASI inside sales representative at 402-420-6000 or via email at insitesales@asiweb.com.

About Automated Systems, Inc.
Since 1981, Automated Systems, Inc. has been a leader in providing innovative core banking, digital banking, and data processing solutions to community banks nationwide. An array of integrated applications provide partnered banks with tailored, cost-effective, competitive choices. ASI delivers industry-leading technology backed by unparalleled in-house conversion, training and support teams; paving the way for progressive, top-notch customer service. ASI corporate headquarters are located at 1201 Libra Drive, Lincoln, NE 68512, 1.800.279.7312. For more information about banking solutions from ASI, visit www.asiweb.com.

About Insite Data Services
IDS data application hosting services combines secure and cost-effective core banking applications, enterprise-class servers and storage, and proven virtualization technology. IDS hosts all of the bank’s servers in secure data centers that use state of the art security systems including identity verification and biometric scanning. Insite Data Services also offers IDS On-Time, a full-service solution dedicated to back-office bank processing. These operations experts allow partnered banks to focus on their most important asset, their customers. For more information visit www.insitedataservices.com.