Data

Plaid acquires Quovo, eying move into brokerage and investment data

  • Competition is growing in the data aggregation market.
  • After a large investment, Plaid buys a competitor.
Plaid acquires Quovo, eying move into brokerage and investment data

Data aggregator, Plaid will acquire competitor Quovo. The transaction may reach $200 million, according to Bloomberg.

What’s happening: The data aggregation businesses is getting increasingly competitive. Enabling the sharing of financial data across firms and applications is the data aggregation industry.

Plaid, a popular data agg firm among technologists, raised $250 million in December in an investment round that valued the firm at $2.65 billion.

Why Quovo: There are a variety of players seriously competing for the data aggregation market, including Plaid, Quovo, Finicity, and Yodlee..

Quovo specializes in providing aggregated data to the investment and brokerage industry and cites Betterment, Wealthfront and SoFi as clients, as well as more established names in wealth management, like Stifel, Vanguard, and John Hancock.

Quovo gives Plaid a foothold in this sector.

Drilldown: Plaid’s Sima Gandhi on building a fintech ecosystem and the end game for data aggregation

Data

Webinar: The New Journey — How empowering consumers with financial data creates richer customer experiences

  • Data aggregation is the underpinning of digital finance.
  • Join Tearsheet's webinar on how data is empowering richer customer journeys.
Tearsheet Editors | March 19, 2019
Data, Podcasts

‘We’re experiencing the Industrial Age of Data Aggregation’: MX’s Brandon Dewitt on the future of banking data

  • Data aggregation is the underpinning of digital finance.
  • MX co-founder Brandon Dewitt joins us to talk about the future of finance.
Zack Miller | March 15, 2019
Data, New banks, Podcasts

BBVA Compass’ Alex Carriles on the impact of choosing the right data aggregation provider

  • Data aggregation done right can provide a big boost for bank customers.
  • BBVA Compass experienced a major lift when they switched data agg providers.
Tearsheet Editors | February 28, 2019
Data

When you can’t trust the machines: Beware of bad data in AI engines

  • AI solutions can help financial services make data driven marketing decisions.
  • But, many firms struggle with the data feeding these solutions.
Guest Author | February 22, 2019
Data

A buyer’s guide to data aggregation

  • Data aggregation is the underpinning of digital finance.
  • Here's a guide to make sense of the industry and major players.
Michael Deleon | February 19, 2019
More Articles