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Lantern Credit Partners with Plaid to Build More Accessible Financial Platforms

NEWPORT BEACH, Calif. – Oct. 20, 2016 – On a mission to promote financial health, Lantern, a financial technology platform provider, announced today that it has integrated with financial infrastructure company Plaid.

The collaboration brings together two FinTech innovators dedicated to delivering higher-quality solutions within the existing financial landscape. Lantern’s innovative applications, which leverage Plaid’s technology, empower consumers to interact with their credit profiles in novel ways, driving solutions that benefit the entire ecosystem.

"Consumers should be able to access and make use of their personal financial data in a dynamic, context-rich way that gives them more choices, deeper insight, and greater control over their financial lives," said Sima Gandhi, Head of Business Development at Plaid. "Informed consumers with access to more current data are better able to make decisions about their financial futures."

The Lantern Credit™ Platform integrates and enhances key components of the consumer credit ecosystem by removing inefficiencies that hinder financial institutions and consumers working together to build financial wellness. Plaid’s technology platform makes it possible for applications like Lantern Credit™ to build products that help consumers lead better lives.

"Making important financial decisions – whether as a banker or a consumer – is only as effective as the accuracy of the underlying data and technology infrastructure available," said Chad Swensen, CEO of Lantern Credit. "Our partnership with Plaid will provide our banking partners with better technology, tools, and strategies to better understand their own customers’ current financial situation—and help them reach their goals."

About Lantern Credit

Headquartered in Newport Beach, Calif., Lantern Credit, LLC is a financial technology company working to solve systemic inefficiencies in the consumer credit market by developing a proprietary platform that integrates and enhances key components of the consumer credit, debt, credit reporting and scoring industries. The Company’s transformative technology, including the Interactive Credit Report™, empowers consumers to model the impact of their financial actions on their credit scores, make payments, and accept new credit offers. The Lantern Platform can be licensed by financial institutions and strategic partners. For more information, visit www.lanterncredit.com.

About Plaid

Plaid is a financial technology platform that enables applications to connect with users’ bank accounts. Headquartered in San Francisco, Calif., Plaid focuses on lowering the barriers to innovation in financial services by modernizing banking infrastructure. The team builds beautiful consumer experiences, user-friendly infrastructure, and intelligence tools that give everyone the ability to develop the future of financial services. For more information, visit Plaid.com.