Astra, Plaid to enable fintechs to embed automated bank transfers

Wednesday 1 September 2021 11:48 CET | News

Astra has partnered with Plaid to offer an integrated solution for developers to easily enable programmatic money movement for their customers, says the official press release.

As part of the partnership, companies can use Plaid’s Auth product in tandem with Astra’s automation platform to provide automated ACH transfers to their users with less friction. Now, developers can build advanced self-driving product experiences and enable programmatic money movement for their customers. For example, a new customer to an authorised application can easily connect a bank account, have its ownership validated, and set up their first automation in a single session. Moreover, with just a few clicks, the transfer automation will continue to work – moving funds for that user until modified or canceled. Another added benefit – customer deposits will continuously grow, and debit cards always have available funds for spending without manual intervention from the user.

Astra is striving to make embedding financial transfers into applications as simple as possible. By providing transfer technology via our transfer API, which includes risk mitigation and automation, developers can spend less time on edge cases and more time on their product. This partnership will allow Astra to reach new organisations facing complexities in facilitating transfers.

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Keywords: partnership, fintech, Plaid , embedded finance, bank transfer, online banking
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United States
This article is part of category

Banking & Fintech