Plaid will integrate with Microsoft Excel to help give the budget spreadsheet a major upgrade. Launching under the guise of Money in Excel, the new tool will use Plaid to import users’ financial information, bringing an automated approach to financial management.
With access to 11,000 financial institutions across the U.S., Canada, and Europe, Plaid is able to import the user’s entire financial picture in real time.
Money in Excel offers budgeting features typical of most PFM applications. Users can see a monthly overview of their spending habits, analyze recurring expenses, and understand their net worth.
Money in Excel is launching as part of the new Microsoft 365 subscription service that will go live on April 21. The subscriptions range from $6.99 per month to $9.99 per month and include real-time editing in Word, advanced PowerPoint layout and speech coaching, and access to creative content.
Plaid works with thousands of third-party fintech apps such as Transferwise, Betterment, and Venmo to connect with their users’ financial institutions. The company made headlines at the beginning of 2020 after it announced it had been acquired by Visa for $5.3 billion.