Plaid’s recent acquisition of competitor Quovo is helping to set the stage for a new chapter in data aggregation; David Jegen of F-Prime Capital recent explained in a blog post according to Forbes, “I believe the combined Quovo-Plaid will become the data access layer in the new financial services tech stack,”; the open banking initiative in Europe is also playing a role as consumers what more access and control of data; Jegen goes on to say that eventually we will get to a world where digital dashboard exist and Plaid could end up being a forward facing brand; there are a lot of potential minefields along the way with regulation, banks potentially creating their own products and more M&A that could create a new industry leader. Source.
