Microsoft and Plaid have announced the launch of Money in Excel, featuring a Plaid integration and the new capabilities essentially turn the spreadsheet software into a fintech app. It allows users to securely connect their financial accounts, import the data within them, sync balances and transactions over time, and, ultimately, gain greater insights into their financial health.
“One of the earliest forms of ‘FinTech’ is a budgeting spreadsheet,” Plaid said in a blog post. “For years, people have relied on Microsoft Excel to budget and track expenses for their personal finances or businesses, typically copying data over from multiple sources. Money in Excel features a Plaid integration, and the new capabilities essentially turn the spreadsheet software into a FinTech app. It allows users to securely connect their financial accounts, import the data within them, sync balances and transactions over time, and, ultimately, gain greater insights into their financial health.”
Money in Excel connects bank account data via the Plaid Link, accessing transaction and balance history to give users their complete financial position in their own Excel documents. A monthly snapshot with personalised graphs and spending patterns offers that familiar PFM insight (albeit about 15 years after PFM was a thing’).
Who knew humble old Excel could continue to evolve and adapt to the fintech future.
