AmEx Makes Deals With Plaid And Yodlee To Share Info

American Express has made deals with Plaid and Yodlee to share data so that card users can connect to tens of thousands of financial apps and services made by third parties.

AmEx is adding Plaid and Envestnet | Yodlee to its accounts financials API. This means that millions of card members can connect their accounts to thousands of apps and services in the digital banking environment without having to give their password to a third party.

AmEx says that because the average person uses three apps to handle their financial connections, it’s important for people to know what data they share and with whom.

The company says that the agreements to share data will improve security, control, openness, and reliability while making it easier to sign on.