What do you get out of it that a csv or access to another service that allows you to do readonly access does this give you that you’d trust. What happens when they hallucinate a payment with an extra digit in it. This will be seen as another example of tech companies acting out of touch.
OpenAI is connecting ChatGPT to bank accounts via Plaid
141–150 of 155 posts
Re: OpenAI is connecting ChatGPT to bank accounts via Plaid
#142Earlier quoted context omitted.
It’s worse than keys, it’s a persistent read-only view of all account data. At least there is a process for unauthorized ACH debits. For this blatant breach of privacy, there is nothing.
Plaid requires your bank username and password, so they have full read-write access to your account. They can do anything you can do when logged in to the bank's website, and so can anyone else who gains access to Plaid's database.
Lmao that must been an American thing. Here it just uses the open banking APIs.
Re: OpenAI is connecting ChatGPT to bank accounts via Plaid
#143I’ve been asked to sign up to plaid by clients three times. Each time I’ve said no. I’m not giving a 3rd party access to my bank account. I don’t understand how people enable this total loss of friction for direct account egress. There needs to be friction.
While I understand the risk of sharing sensitive information (e.g. bank login) with a 3rd party. But the current situation is such that your bank currently monopolize your bank information to improve your loan offer, to give you better service at better rate based on their understanding of your bank transaction history.
Currently, there is no aligned format for sharing your bank transaction history with other financial institution of your choice. Your current bank is the one who purposely makes it hard (only allowing you to share it through the same bank login) so that you are more locked-in in their eco system.
I used to work with Plaid as a provider, and you will notice certain banks who really do not like their customers using Plaid in sharing their bank transaction history with competitors will often have unscheduled maintenance that Plaid wouldn’t work so that you as a user would find friction using someone else and stay with only using products within their ecosystem.
I think the real question is less about why are we using Plaid to share our transaction information. If we are to have an open format to share our banking transaction history, what should be that format and what would be the lock and key for it?
Re: OpenAI is connecting ChatGPT to bank accounts via Plaid
#144[flagged]
Re: OpenAI is connecting ChatGPT to bank accounts via Plaid
#145I’ve been asked to sign up to plaid by clients three times. Each time I’ve said no. I’m not giving a 3rd party access to my bank account. I don’t understand how people enable this total loss of friction for direct account egress. There needs to be friction.
While I understand the risk of sharing sensitive information (e.g. bank login) with a 3rd party. But the current situation is such that your bank currently monopolize your bank information to improve your loan offer, to give you better service at better rate based on their understanding of your bank transaction history. Currently, there is no aligned format for sharing your bank transaction history with other financi…
Maybe the mechanism for sharing could be inspired by OpenBanking? In the UK and EU all the banks have to offer API access to accounts.
Instant transfer (sub-second) for free is available to everyone. (Up to a certain limit)
Re: OpenAI is connecting ChatGPT to bank accounts via Plaid
#146Earlier quoted context omitted.
Still kinda weird that a non-YC company gets to have job listings on a site for only YC companies.
I don't know; I'm not involved. Just noticed the UI affordance.
Clearly you are not involved lol. The suggestion seems to be that YC is involved in some way; perhaps untraditional.
Re: OpenAI is connecting ChatGPT to bank accounts via Plaid
#147Earlier quoted context omitted.
Hijacking this comment to complain about fintech apps / saas providers requiring Plaid - please stop. For example, Coinbase requires logging in with Plaid to... setup auto-pay for their credit card statements. No way to just provide account/routing numbers the good ole way. There's lots of issues with Plaid but one big one is that banks (e.g big ones like BofA) can lock your account due to suspicious login with Plaid…
Airbnb requested Plaid access to my entire Chase account and all transactional data to "verify my credit card" a few years ago, and wouldn't budge until I tried Apple Pay, where they apparently weren't able to figure out the underlying issuer and accordingly left me alone. Needless to say that it was my last stay with Airbnb.
What will you do once all of the accommodation providers start doing this AND they figure out how to see through Apple Pay?
Re: OpenAI is connecting ChatGPT to bank accounts via Plaid
#148In a few years Plaid will not be a thing. "Local" banks are already permitting their outsourced online banking systems to sell information on each line item. Soon it will be assumed that your transaction history will be easier to obtain than your credit.
Do you have an article/source on this?
Re: OpenAI is connecting ChatGPT to bank accounts via Plaid
#149In a few years Plaid will not be a thing. "Local" banks are already permitting their outsourced online banking systems to sell information on each line item. Soon it will be assumed that your transaction history will be easier to obtain than your credit.
Do you have an article/source on this?
Search for various online banking privacy policies and read through them yourself.
Re: OpenAI is connecting ChatGPT to bank accounts via Plaid
#150I’ve been asked to sign up to plaid by clients three times. Each time I’ve said no. I’m not giving a 3rd party access to my bank account. I don’t understand how people enable this total loss of friction for direct account egress. There needs to be friction.
Refinancing a loan I passed on the lowest possible rate I could get, for a slightly higher one, specifically because they used Plaid. I'm not the most privacy-focused individual, not nearly as paranoid as I could be, but Plaid's model is an OBVIOUS step too far.
BMO offered the ability to link plaid and some other company to automate it vs me sending updated statements manually. I chose manual. I hate that this is the only option for convenience.