The CFPB’s upcoming requirements boil down to one goal — enabling financial institutions (FIs) to securely share their approved customer data with authorized third-party applications, fostering a more equitable, interoperable, and competitive financial ecosystem for everyone involved.
With Ninth Wave’s long-standing and ever-growing number of leading partnerships, we’re pleased to announce a collaboration with Plaid that will make it easy for FIs to ensure they are compliant with the anticipated Dodd-Frank Act Section 1033 regulations, while delivering seamless connectivity to the thousands of apps and services in the Plaid network.
Ninth Wave has pioneered the open finance industry, focusing on putting FIs and their customers in control of their data. Plaid, the leading financial data network, makes it increasingly easy for customers to connect to the apps and services they choose. Together, as a Plaid preferred partner, Ninth Wave delivers secure, optimized open finance connectivity to FIs while supporting Plaid’s extensive data network.
Trusted by FIs throughout the industry, Ninth Wave’s open finance solutions include:
- Open Finance APIs: Delivering seamless management of direct connections to 3rd party applications and 4th party customer applications via aggregators.
- Fintech Registry: Providing FIs with control over individual application and aggregator connectivity.
- Advanced Analytics: Offering insights into all open finance traffic.
- Security Center: Empowering end customers to manage account-level consent at the application level.
With the Ninth Wave–Plaid Partnership, these capabilities now extend to Plaid’s network, providing FIs and their customers with complete transparency across all open finance traffic and are already in production with joint clients.
“We’re excited to deepen our relationship with Plaid. Our aligned missions to deliver open finance technology means that together, we can deliver greater value to banks and their customers. This partnership keeps banks relevant and engaged throughout their customers’ financial journeys,” said Cameron Taylor, Chief Product Officer, Ninth Wave.
“Our partnership with Ninth Wave allows financial institutions to leverage a scalable solution that instantly connects them to thousands of apps across the Plaid network”, said Christy Sunquist, Head of Open Finance at Plaid. “This collaboration ensures FIs can meet Section 1033 compliance quickly, offering seamless API access to empower their customers without delay.”
Combining Ninth Wave and Plaid’s scope of expertise, financial institutions of all sizes will be able to access the opportunities that open banking presents, while simplifying compliance and delivering consented access to meet both customer and regulatory needs.
Contact Ninth Wave today to learn more about how our open finance solutions can help your FI deliver high-quality data and secure authentication through Plaid’s extensive network of fintech applications.
About Ninth Wave
Ninth Wave delivers secure, seamless, and standardized data connectivity to fintechs and financial institutions of all sizes, through a single point of direct integration to a universal suite of open finance APIs. With configurable controls, visibility, and insights into all data sharing and data acquisition connections between aggregators, third-party apps, and internal applications, Ninth Wave empowers financial institutions and their customers with access and oversight to their connected apps, enabling secure data exchange in a holistic and scalable open finance ecosystem. Offering solutions for retail and commercial banks, wealth managers, credit card issuers, tax providers, and more, Ninth Wave provides unparalleled connectivity and universal compatibility to complex information systems, unlocking innovation, potential, and performance for your data. Contact us to learn more about Ninth Wave’s secure data connectivity features. Empowering open finance. At scale, at last.
