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Actually, it's deterministic -- our product doesn't move money, so when the user gives us access through Plaid, we're only getting read-level permissions. We ac
by mbm 6mo ago
Actually, it's deterministic -- our product doesn't move money, so when the user gives us access through Plaid, we're only getting read-level permissions. We actually don't even get full account numbers.
A company working with Plaid has to request separate product "scopes" through Plaid in order to be able to move money.
- ForHackernews 6mo agoI'm not that familiar with Plaid, but if it works like Yodlee, users have to hand over their credentials so there's no real security, it's just that their scraper is designed to be look not touch.
- mbm 6mo agoPlaid has OAuth-based access for most of the big institutions now, but yes, for smaller institutions, they do scraping. Thankfully, Plaid's been around for a while now and has a good track record. It would be a non-starter to give your credentials to a small startup directly.
- fsckboy 6mo agothe question isn't whether the user is trusting Plaid with too much access, the question is whether Plaid is trusting these apps with too much.