Coins ERP+ integrates with Plaid to provide open banking services. Integrating with an Open Banking provider lets COINS securely exchange information – such as transactions or payments – with your bank, instead of having to download or send text files.
In v12.04, COINS uses this connection to retrieve transaction information from the accounts that you have granted access to and to import the transactions into Cash Book for reconciliation.
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COINS can securely connect to Plaid and exchange account and transaction information with banks. This allows a COINS user to connect to their bank via Plaid and authorise their bank to share account and transaction information with COINS. COINS does NOT store, or at any time have access to, the credentials between the customer and their banks. COINS only receives and securely stores an “access” token granted by Plaid.
You can revoke this authorisation to share information with COINS at any time.