Every day financial activities are increasingly being conducted through online applications, and as the Fintech industry continues to explode, having API-based access to users’ bank account data is not only convenient, but necessary. Considering the mass of privacy, security, and reliability regulations that govern financial data transactions, building this functionality from scratch is no easy feat. That’s why so many current financial applications use the Plaid API.
Plaid offers unified authentication for thousands of global financial institutions. Once users authorize access to their bank data, you can use the Plaid API to authorize the account for ACH (without microtransactions), retrieve statement and real-time balance data, and validate the user’s identity and employer info. Plaid is already being used by industry-leading finance applications such as Acorns, Venmo, Expensify, and Stash, and if your application relies on bank account authorization, integrating the Plaid API will likely be one of your best options. https://goo.gl/wDCxBx #DataIntegration #ML
