![]() ![]() This protects your identity from potential hackers and prevents unauthorized logins to your banking apps. Plaid requires multi-factor authenticationĪlso known as MFA, multi-factor authentication is an added layer of security during logins. As a result, your data will remain safe and sound, even when cybercriminals use state-of-the-art hacking tools. In other words, hackers who wish to steal your information from Plaid will only view incomprehensible data that will take them thousands of years to crack. Is Plaid trustworthy? To help you decide, here are some features that the Plaid software boasts on its website: Plaid has end-to-end encryptionĮnd-to-end encryption refers to translating your data into “gibberish,” making it inaccessible and invalid to third parties attempting to steal or access your data during transmission. Plaid security features: How does it protect your data? ![]() These include the accountholder’s basic personal information, transaction details, and account-specific details.įinancial institutions pay Plaid for its services, but for consumers like us, Plaid is free to use. Plaid simplifies the process for these financial institutions by providing them with the essential data points they need to serve their customers. Is Plaid necessary? According to Plaid, because financial institutions have varying structures and data management, it takes a lot of resources to build different digital connections. It uses the Advanced Encryption Standard (AES-256) and Transport Layer Security (TLS) to encrypt all your information before handing it over to Mint. If you use Mint, for example, Plaid acts as a protective barrier in between. While your information passes through Plaid, it claims that you have power over the information you share. ![]()
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