Quiltt: Streamlining Financial Data Connections
Quiltt optimizes financial connections by orchestrating multiple data aggregators, ensuring seamless access to bank data for financial institutions.
Their Linkedin ads were on my feed for a long time before I bit the bullet...and I was immediately mad I hadn't done so earlier.
In my experience evaluating data vendors, I generally look for 4 attributes that help me decide whose the best fit to solve a problem:
- Coverage - Does the provider cover the region / domain of the pain point?
- Sufficiency - Does the providers data fulfill all aspects of the review I'm trying to conduct?
- Latency - How quickly can the provider source the data I'm looking for?
- Pricing - Does their offering break the bank?
Quillt value prop hits all 4 criteria immediately for financial connections. As an orchestration layer that sits above aggregators like Plaid & MX, they ensure that applicants to financial institutions have no hurdles to providing their bank data.
To put it simply, assuming you've established relationships with various aggregators (which you can do through their platform), Quiltt will route clients to the aggregator that covers the bank that they use. No more "my bank isn't supported, can I give you bank statements??" Ugh 🙄
This would have been such a game changer for me years ago - establishing and handling a waterfall of vendors of the same type is an optimization exercise of madness. Personally, it's one I will never do again...would suggest you don't either 😉