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For those interested: In Europe, banks are forced to provide fintech companies access to customer data when the user consents to this under its "open banking" i
by Quanttek 8y ago
For those interested: In Europe, banks are forced to provide fintech companies access to customer data when the user consents to this under its "open banking" initiative
https://www.cnbc.com/2017/12/25/psd2-europes-banks-brace-for-new-eu-data-sharing-rules.html https://www.cnbc.com/2017/12/25/psd2-europes-banks-brace-for...
Personally speaking, i have a problem with companies like Plaid and SOFORT (EU), where they kind-of hide the fact that you provide them with your login credentials (and not the bank). From what I understand from this thread, Plaid may be selling your data and gives developers full access to the customer's transaction history. This is worrying
- vichu 8y agoPer whockey's comment here[0], it doesn't seem like Plaid is selling your data directly to 3rd parties - though it doesn't prevent the developers you're giving your data to from selling it. [0] https://news.ycombinator.com/item?id=18655507 https://news.ycombinator.com/item?id=18655507