Plaid puts Quovo acquisition right to work with new investments product

TechCrunch | 6/20/2019 | Staff
marika (Posted by) Level 3
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When Plaid acquired Quovo earlier this year, it was clear the company wanted to move beyond checking and savings data to a broader view of investments. Today, the company announced Investments, an API based on Quovo, that enables customers to pull in investment data into their apps.

Lowell Putnam, head of partnerships at Plaid and former CEO and co-founder at Quovo, says there has been a hunger for this kind of data from customers and developers, and the Quovo purchase helped accelerate that inside Plaid .

Origins - Product - Company - Demand - Plaid

“I think that the origins of the product comes from a company that I co-founded and also broader demand that Plaid has seen in the past several years. It shouldn’t come as a surprise that a lot of our customers want the full 360 degree view of their clients,” Putnam told TechCrunch.

An investment account provides unique challenges over a checking or savings account, which has a certain amount of cash at any given time.”Instead of owning just cash in an account, investment accounts hold multiple securities in...
(Excerpt) Read more at: TechCrunch
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