Skyflow, Plaid Partner on Data Protection and Privacy for FinTechs

Data privacy platform Skyflow on Thursday (April 21) partnered with data network Plaid to help developers build applications with data privacy infrastructure through its API, according to a joint press release.

Plaid boasts more than 12,000 financial institutions in its network, while Skyflow’s Data Privacy Vault offering helps customers build powerful FinTech applications with data privacy, security and compliance tools.

“Plaid and Skyflow have a similar goal of providing developers the tools they need to bring their products to market quickly, without spending time and resources on vital but ancillary functionality,” says Anshu Sharma, CEO of Skyflow, in the joint press release.

“Helping keep financial data secure is more important than ever, and building privacy infrastructure from scratch has traditionally been really complex,” he said. “This custom integration will make the implementation of Plaid and Skyflow easier than ever for developers.”

Skyflow will offer pre-built connections to Plaid products and a predefined vault path for Plaid customers, so developers and users know the financial data accessed through Plaid will be stored securely in the Skyflow Data Privacy Vault.

“Security is a pillar of Plaid. It is at the heart of every app and service we power,” said Paul Williamson, Head of Revenue at Plaid, in the joint press release. “Partners like Skyflow enhance the security of the FinTech ecosystem.”

“Through this partnership, Plaid customers and developers can continue to build financial products knowing the data they access is stored safely and securely,” he said.

Related: Discover Launches Customer Data Privacy Tool

Earlier this week, Discover launched Online Privacy Protection, a free mobile app-based benefit for customers to help scrub their information from 10 websites that collect and sell user data.

Discover said the tool regularly examines popular people-search websites and helps remove personal information of customers — names, addresses, ages and phone numbers. These sites compile, publish, and sell consumers’ information and make it accessible for anyone to purchase via public-facing websites.