BANK OF AMERICA VISA CREDIT CARD HACK SERIES

I believe this method is a deliberate attempt by the bank to better educate their users and draw attention to connections they may have forgotten they made. What makes the Bank of America experience unique is the pushing of information to the user to inform them of the Plaid connections, as opposed to waiting for the customer to find the list in their online security center or portal. Wells Fargo and several other large banks have buried similar controls in their existing online banking experiences and Plaid has begun offering customers a more enhanced version of these controls directly to customers via their own portal at My.В The Plaid hosted version not only allows the customers to see their connections across multiple banks, but it also shows more detailed information about what data is being shared with each third-party application across all Plaid connections. This leads me to believe this integration is more of a direct partnership between the bank and Plaid.Д«ank of America example customer preference screen showing connected Fintech Apps Bank of AmericaДЄs I mentioned, Bank of America is not alone in providing customers access to view and manage their third-party data connections. We have also not seen an announcement from Akoya announcing that Plaid has joined the network, nor have we seen an announcement of Bank of America implementing the Akoya APIs yet (like we did for US Bank last year).

When it comes to the Bank of America product specifically, the bank has not gone on record to indicate if they partnered directly with Plaid. WFC Control Center has been one of the more heavily marketed versions of this tool, and now Bank of America appears to be entering the space with a similar set of controls. Many banks aim to go even further by allowing the user to turn on or off the access to those apps from within their bank experience. The ideal bank experience would allow a customer to see which third party services they have shared their data with along with which data elements are being shared.

BANK OF AMERICA VISA CREDIT CARD HACK SERIES

Through a series of partnerships announcements in the last two years, Plaid has been publicly working with a number of the large banks on data sharing agreements that are aimed at generating enhanced customer experiences.

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