Through this agreement, TD Bank Group’s US and Canada customers can connect and share financial data with Plaid’s data network of approximately 8,000 apps and services via application programming interfaces (APIs). By leveraging APIs, TD customers receive enhanced data security and privacy as the need for sharing login credentials with third parties is removed.
Entering the Financial Data Exchange (FDX) in 2018 to assist in the advancement of solutions that can protect customer data and support an API-based technology protocol, with TD expanding its role in 2023;
Joining a data access agreement with Finicity, Mastercard’s US Open Banking arm, in 2020, enabling the progression of customer-authorised data sharing using APIs;
Registering in the Akoya Data Access Network in 2021 to allow US-based customers to share data with fintechs and aggregators without being required to provide login credentials and passwords to third parties;
Entering a North American data access agreement with Envestnet|Yodlee in 2021 so that customers could connect their TD accounts to financial management, payments, wealth, and small business applications enabled by Envestnet|Yodlee’s platform.
Furthermore, the group underlined its commitment to offering enhanced experiences for customers across all channels. TD’s agreement with Plaid supports the group’s vision by offering an improved, intuitive, and convenient digital experience through secure connectivity with Plaid’s environment.
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