Microsoft joins forces with Plaid to make Excel a fintech app

(Image credit: Plaid)

Microsoft has partnered with San Francisco-based fintech startup Plaid to develop a new software app called Money in Excel. The collaboration will allow people to automatically import their bank and credit card account data into the personal finance tool. The software will be available to Microsoft 365 subscribers in the US initially. 

The Money in Excel app will let users manage, track and analyse their money and keep track of their spending habits, all within the space of the Excel spreadsheet application. 

Financial accounts are connected via a Plaid Link from within Excel. Users can then import transactions and account balances automatically via connections with over 11,000 financial institutions in the USA, Canada and also Europe.

Money in Excel

Plaid says that in the US it supports nearly every institution from the major retail banks to community credit unions. Money in Excel users will get a monthly snapshot that features personalized charts and graphs, collated from your data. The fintech app can be further customized using templates that are most relevant to your spending patterns, flagging up key areas such as recurring expenses, net worth and more.

In a blog post Eric Sager, COO, Plaid, said: “Money in Excel is powered by Plaid and essentially turns the spreadsheet software into a fintech app – letting you sync your balances and transactions from financial accounts and easily categorize and analyze through charts and templates.”

Rob Clymo

Rob Clymo has been a tech journalist for more years than he can actually remember, having started out in the wacky world of print magazines before discovering the power of the internet. Since he's been all-digital he has run the Innovation channel during a few years at Microsoft as well as turning out regular news, reviews, features and other content for the likes of TechRadar, TechRadar Pro, Tom's Guide, Fit&Well, Gizmodo, Shortlist, Automotive Interiors World, Automotive Testing Technology International, Future of Transportation and Electric & Hybrid Vehicle Technology International. In the rare moments he's not working he's usually out and about on one of numerous e-bikes in his collection.