Pluggy is a B2B fintech company that provides an open banking API platform focused exclusively on the Brazilian market. Pluggy enables developers to securely access users' financial data from bank and brokerage accounts, making it possible to build financial applications, services, and products that require real-time and reliable banking data.
Pluggy’s platform is designed to address the unique complexities and regulatory requirements of Brazil’s financial system. By focusing solely on Brazil, Pluggy has developed technology that covers 90% of Brazilian bank accounts, offering a high degree of reliability and data coverage in one of the world’s largest fintech markets.
What Technology Does Pluggy Leverage?
Pluggy’s core offering is its secure API, which acts as a bridge between financial institutions and developers. This allows businesses to integrate account aggregation, transaction history, and other financial data into their products. The platform is engineered specifically for Brazil’s open banking ecosystem, taking into account local compliance, security, and integration challenges. Pluggy’s local expertise in banking technology engineering is cited as a key factor in delivering timely and dependable data to market.
Who Uses Pluggy?
Pluggy serves B2B clients such as fintech startups, banks, personal finance management platforms, lending companies, and other developers seeking to connect to end-user financial data in Brazil. Its services are tailored for organizations building products that rely on accurate and up-to-date banking and brokerage information for Brazilian consumers.
Who Are Pluggy’s Competitors?
Pluggy operates in the Brazilian open banking API and financial data aggregation space. Key competitors and related platforms include:
- Cloudentity: Offers open banking solutions for Brazil, with a focus on secure data sharing between financial institutions.
- Curity Identity Server: Provides financial-grade APIs for open banking compliance in Brazil, emphasizing security and regulatory requirements.
- Ozone API: Specializes in open finance and open banking APIs, aiming to drive innovation and competition in Brazil’s financial system.
While global players like Plaid exist, Pluggy’s strong local focus and engineering expertise for Brazil’s regulatory and technical environment differentiate it as a reliable provider in this market.
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