Microsoft partners with Plaid to make Excel a fintech app

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• Microsoft partners with Plaid to make Excel a fintech app

Microsoft has partnered with San Francisco-based tech company Plaid to develop a new software application called Money in Excel. The collaboration will allow people to automatically import their bank account and credit card details into the personal finance tool. The software will initially be available to Microsoft 365 subscribers in the United States. The Money in Excel app will allow users to manage, track and analyze their money and track their spending habits, all in the Excel spreadsheet space. Financial accounts are connected via a link to Excel charts. Users can automatically import transactions and account balances through connections with more than 11,000 financial institutions in the United States, Canada, and also in Europe.

Money in Excel

In the United States, Plaid supports nearly every institution, from large retail banks to community credit unions. Money in Excel users will get a monthly snapshot that features custom charts and graphs, collected from their data. The fintech app can be further customized by using templates that best suit your spending habits, highlighting key areas like recurring expenses, net worth, and more. In a blog post, Eric Sager, COO, Plaid, said: "Money in Excel works with Plaid and essentially turns your spreadsheet into a fintech application, allowing you to sync your financial account balances and transactions and categorize and easily analyze through graphs and models."