Quovo

·Sep. 14, 2020

Learnings from Microsoft & Visa integrating personal financial data into Excel, and the open ecosystems of Google Sheets and MetaMask

At $13 billion of revenue and 800 million users in 2016, Office 365 roughly generated $20 per user. That's like Monzo, but with the user foot print of Ant Financial.

You might think the comparison is daft. But let's dig a bit deeper. Excel, and spreadsheets more generally, are the default behavior for managing personal finances. Even for financial advisors, who are supposed to be the precise niche leveraging financial planning software, Excel is the default "do nothing" option. If you are not paying for digital wealth software as an advisor, you are doing it in Excel.

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Fintech News Roundup USA

·Jun. 21, 2019

Plaid Announces Investments Product Through Quovo

Plaid acquired competitor Quovo earlier this year and has just announced their first offering through the company, Investments; the new...

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Fintech News Roundup USA

·Jan. 8, 2019

Plaid Makes Acquisition of Quovo

Banking data aggregator Plaid has acquired their main competitor Quovo in a deal that Bloomberg said could reach $200mn; the...

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Fintech News Roundup

·Apr. 27, 2017

Quovo Raises Series B for Expansion Plans

Quovo raised $10 million in Series B funding from existing investors FinTech Collective, Long Light Capital and they were joined by F-Prime Capital and Napier Park Financial Partners; "We're excited to see the continued traction and adoption of our services across the financial services and Fintech space," said Lowell Putnam, CEO and co-founder of Quovo; the capital will be used for growth of the platform and building out their bank API and Quovo Connect module. Source

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Fintech News Roundup

·Feb. 27, 2017

Quovo Expands Bank Authentication API to over 200 Institutions

Fintech firm Quovo launched its bank API in November 2016 with 18 financial institutions; it has now expanded to 215; the API technology allows fintech firms to verify accounts and offer ACH payments and transfers; Quovo's recent partnership expansion has also included credit unions and regional banks. Source

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acquisition Embedded Finance Open Banking paytech

·Jan. 20, 2020

Is Plaid cheap at $5.3 billion for $500 billion Visa?

I dig deeply into the $5.3 billion acquisition of data aggregator Plaid by $500 billion payments network Visa. We examine why this deal is worth 25-50x revenue, while Yodlee's sale to Envestnet was priced much lower. We also look at how Plaid could be an existential threat to Visa, and why paying 1% of marketcap to protect 200 million accounts may be a good bet. Broader implications for product manufacturers across payments, investments, and banking also emerge -- the middle is getting carved out, and infrastructure providers like Visa or BlackRock are moving closer to the consumer.

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Fintech News Roundup USA

·Feb. 7, 2019

Plaid Acquisition of Quovo Just the Beginning in Data Aggregation

Plaid’s recent acquisition of competitor Quovo is helping to set the stage for a new chapter in data aggregation; David...

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Fintech News Roundup USA

·May. 11, 2018

Data Aggregators Create Data Sharing Framework with Banks

Envestnet’s Yodlee, Quovo and Morningstar’s ByAllAccounts have come together to establish a data sharing framework with banks and fintechs; the...

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News Roundup Online Lending USA

·Mar. 23, 2017

SoFi Demos Authentication API by Quovo at FinDEVr

In partnership with Quovo, SoFi has integrated an API for wealth management customer authentication and data aggregation into its platform infrastructure; with the API integration, customers can now link with over 200 financial institutions; the new API allows customers to pull in data from existing accounts for various purposes on the platform. Source

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