Skyflow collaborates with Plaid to improve the security of the fintech ecosystem
Skyflow has announced a partnership with Plaid, a data network that powers the tools millions rely on to lead healthier financial lives.
The partnership will make it easier than ever for developers to build apps with data privacy infrastructure through a simple API. This unites Plaid’s network of over 12,000 financial institutions with Skyflow’s unique Data Privacy Vault offering, making it easy for customers to build powerful fintech applications with the best privacy, security and compliance. data. With Skyflow and Plaid’s developer-focused approaches to digital finance and privacy, customers can focus on building, bringing to market, and scaling their core products.
With Plaid, fintechs can enable their users to seamlessly connect their financial accounts to share financial data. The resulting influx of PII that enables fintechs to provide services to their users also presents a new task: how to protect and store this sensitive information. This partnership between Skyflow and Plaid offers a simple solution. As a partner of Plaid data privacy solutions, Skyflow will offer predefined logins to Plaid products and a predefined vault scheme for Plaid customers. With this scheme, developers and users can know that financial data accessed through Plaid will be securely stored in the Skyflow Data Privacy Vault.
Built by developers for developers, Skyflow makes it easy to implement a world-class approach to data privacy without sacrificing usability or a ton of resources. Skyflow also has an existing infrastructure to support a number of Plaid ecosystem partners, including pre-built integrations with Visa, Moov, Marqeta and more.
“Plaid and Skyflow have a similar goal: to provide developers with the tools they need to bring their products to market quickly, without spending time and resources on vital but ancillary features,” said Anshu Sharma, CEO of Skyflow. “Helping secure financial data is more important than ever, and building a privacy infrastructure from scratch has always been very complex. This custom integration will make implementing Plaid and Skyflow easier than ever for developers.”
“Security is a pillar of Plaid. It’s at the heart of every app and service we power,” said Paul Williamson, chief revenue officer at Plaid. “Partners like Skyflow strengthen the security of the fintech ecosystem. Through this partnership, Plaid customers and developers can continue to build financial products knowing that the data they access is stored securely.
A data privacy solution built for fintech
Skyflow offers the first zero-trust data privacy vault delivered as an API and last month Skyflow achieved Level 1 PCI compliance. It can be deployed quickly and provides a complete and customizable solution for compliance , data security, governance, global data residency, secure data sharing and analysis, and encryption/tokenization.
Skyflow’s Data Privacy Vault supports modern financial services use cases, including:
- Customer integration
- Customer data management
- money movement
- Card issuance and acceptance