Who owns your Banking Data?
If you’ve used Venmo, Coinbase or Robinhood then you’ve used Plaid, whose software links users’ bank accounts to these apps. Investors include the venture capital arms of Goldman Sachs and Google’s parent company Alphabet. Plaid’s mission is to help consumers own their banking data by being able to more easily see their complete financial picture. This goal is part of an ‘open banking’ movement sweeping across the fintech industry.