People In Tech

Who owns your bank💰 data 🏛️?

January 29, 2020 Caleb King
People In Tech
Who owns your bank💰 data 🏛️?
Chapters
People In Tech
Who owns your bank💰 data 🏛️?
Jan 29, 2020
Caleb King

In the age of digital banking, financial data now stretches way beyond traditional banks.

Consumers can quickly move their money or invest through financial technology apps, or so-called fintech apps like Venmo and Robinhood. To do that, they needed access to data. That’s where Plaid comes in.


Who are they? What do they do?
Plaid is tech startup that connects bank accounts to thousands of apps and helps consumers develop a complete picture of their financial data. They lay the ground work for future apps to build their "FinTech" apps.

The Takeaway
Who owns the information in your bank account? Transactions, balance history, every other detail? The answer might seem obvious: You do. Yes, it’s your money. But the data, from savings balances to your history of car payments, belong to whatever institution holds the account. And just who has the rights to see that data has become a pitched battle, with Washington as a front.

Why Listen?

  • You are curious about who actually owns your financial data. If you want to hear more about the "Open Banking" movement and how it is changing the way people manage their money.

Follow Us:
Where listeners can find you online:

Support the show (https://patreon.com/People_In_Tech)

Show Notes

In the age of digital banking, financial data now stretches way beyond traditional banks.

Consumers can quickly move their money or invest through financial technology apps, or so-called fintech apps like Venmo and Robinhood. To do that, they needed access to data. That’s where Plaid comes in.


Who are they? What do they do?
Plaid is tech startup that connects bank accounts to thousands of apps and helps consumers develop a complete picture of their financial data. They lay the ground work for future apps to build their "FinTech" apps.

The Takeaway
Who owns the information in your bank account? Transactions, balance history, every other detail? The answer might seem obvious: You do. Yes, it’s your money. But the data, from savings balances to your history of car payments, belong to whatever institution holds the account. And just who has the rights to see that data has become a pitched battle, with Washington as a front.

Why Listen?

  • You are curious about who actually owns your financial data. If you want to hear more about the "Open Banking" movement and how it is changing the way people manage their money.

Follow Us:
Where listeners can find you online:

Support the show (https://patreon.com/People_In_Tech)