Truist Financial Corporation (NYSE: TFC) announced a data-access agreement with Plaid Inc. to expand secure open banking capabilities for consumer and small business clients. The partnership was announced March 12.

The collaboration aims to provide clients with increased control over their financial data through enhanced connectivity and security features. The agreement includes joint product enhancements and architectural improvements designed to improve data quality and support fraud prevention efforts.

"By working together through cooperative data sharing, we're offering clients improved financial control and insights," said Sherry Graziano, Head of Digital, Client Experience and Marketing at Truist. "This is just one way we're providing a secure, personalized banking experience that digitally empowers clients and small business owners with a broader view of their financial lives."

The partnership features a streamlined login process for returning users, shared data and risk indicators from both companies' networks to enhance security, and an FDX-aligned API that eliminates credential sharing while allowing clients to manage or revoke connections.

Christy Sunquist, head of open finance at Plaid, said the partnership combines Truist's client-focused approach with Plaid's data network capabilities. "Together, the companies are expanding the capabilities of API connectivity and advancing data-driven innovation, including shared intelligence, to provide clients with secure and convenient access to their accounts," Sunquist stated.

Truist is a Charlotte, North Carolina-based financial services company with $548 billion in total assets as of December 31, 2025. Plaid operates a global data network serving thousands of companies and connects over 12,000 financial institutions across the United States, Canada, United Kingdom, and Europe.