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What are Plaid and Dapi, How do they work, and Are they safe?
What are Plaid and Dapi, How do they work, and Are they safe?
Updated over a week ago

Plaid and Dapi are open banking platforms. They are fintech companies used by more than 4,500 businesses to connect users to third-party financial applications.

You're likely to encounter Plaid when linking your bank account to apps provided by financial services such as American Express, Venmo, or Upstart. Dapi is trusted by companies like Mastercard, Western Union, and NymCard.

The software provided by Plaid and Dapi acts as an intermediary between your bank or credit card accounts and Comfi. When you use Plaid and Dapi with Comfi, you authenticate by directly providing your login credentials to your bank. Comfi never has access to your username or password. Instead, Comfi only receives a notification of a successful login and the information you permit us to access.

While you may have reservations about entrusting an external company with your sensitive financial account information, this is where Plaid and Dapi come into play. They claim to prioritize security, never selling or renting users' financial information and affording users complete control over shared data.

Article sources

  1. Investopedia.

  2. Plaid.

  3. Dapi.

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