Microsoft partners with Plaid
Microsoft and Plaid Technologies are giving an Excel spreadsheet fintech capabilities with the launch of Money in Excel, a new tool part of Microsoft 365 that will allow users to connect their financial accounts for the sake of gaining greater insights into their financial health.
After linking their account(s), users will have access to their balance and transaction history, providing an up-to-date and “holistic financial picture.” A “Monthly Snapshot” sheet features personalized charts and graphs based on users’ data to help them better understand their spending behaviors. Users will also be able to customize the sheet by adding templates that are relevant to them with options like recurring expenses, net worth, and more.
Plaid, which recently made headlines following Visa’s intent to acquire the startup for $5.3 billion, connects to 11,000 financial institutions across the US, Canada, and Europe.