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> The end user must type their bank account credentials into a third party platform Huh? I have seen plaid redirect to my banks login and then authentication a
by xyst 2y ago
> The end user must type their bank account credentials into a third party platform
Huh? I have seen plaid redirect to my banks login and then authentication and subsequent authorization (read access to accounts) in other flow. Then plaid uses provided token to retrieve data.
I don’t recall having to pass login credentials to plaid. Maybe that’s a limitation of _your_ bank?
- smsm42 2y agoYes, for banks that have this workflow enabled. In know WF does something like that. But many banks don't, and for these there's not much alternative except getting username/password and scraping. Terrible security, but dragging the banks into 21th century will take a lot of time. Some providers are annoying enough to ban external aggregation completely, seemingly just out of spite. Normally I wouldn't even work with such bank but unfortunately sometimes (like HSA account from work) you don't have a choice.