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It’s absolutely insane to me that people willingly give their bank credentials to random third party companies. Plaid (and others) are basically mitm as a servi
by drexlspivey 6y ago
It’s absolutely insane to me that people willingly give their bank credentials to random third party companies. Plaid (and others) are basically mitm as a service and they’ve built a billion dollar business because banks live technologically in the stone age
- randomdude402 6y agoIt's amazing... amazing to me the confused looks I get from people when they start telling me their venmo credentials or whatever and I just hand them a 20 dollar bill for my share of lunch. It's exhausting explaining to people that I am fine with them having an extra dollar and two cents over what I owe if the alternative is giving my fucking banking password to some california cowboy company that doesn't have to follow banking regulations.
- tatersolid 6y ago> some california cowboy company that doesn't have to follow banking regulations. Oh they do legally need to follow most banking regulations. That many “fintech” companies don’t do regulatory training and compliance will result in hefty fines and shutdowns. The FDIC, FTC, OTS, etc. are pretty humorless and fairly efficient and effective.
- jtsiskin 6y agoI bet 99% of people think they are actually securely logging in to their bank. I wonder what the fallout will be if plaid eventually gets hacked.