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A comment on Fintech startup Plaid raises $250M at a $2.65B valuation. Parent comment

Re:Fintech startup Plaid raises $250M at a $2.65B valuation by eropple on Tuesday December 11, 2018 @10:36AM (#18655951)
They could, but they won't (barring a change in the ecosystem). Basically everyone does exactly this when a bank doesn't have a federated login system. Take, for example, Personal Capital.
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Re:Fintech startup Plaid raises $250M at a $2.65B valuation by SilasX on Tuesday December 11, 2018 @10:39AM (#18655980)
So all these services are storing plaintext passwords for the banks?
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Re:Fintech startup Plaid raises $250M at a $2.65B valuation by eropple on Tuesday December 11, 2018 @10:55AM (#18656132)
Yup. When done as-correctly-as-possible those passwords should be encrypted on a per-user basis and keys should not be stored in the same datastore as the ciphertext. That's what we ultimately did for a project circa 2013; I assume that most folks do similarly.
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Re:Fintech startup Plaid raises $250M at a $2.65B valuation by bwood on Tuesday December 11, 2018 @10:51AM (#18656097)
Basically, yes.
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