I am surprised Plaid is a business. It is a bunch of scripts of dubious security. How businesses are coming on board with that is worrisome.
On the other hand, if we could have standard API and let people integrate services, totally welcome that. But let's not pretend this is anything like that.
Consider it market proof of how much demand there was for API integration that this suboptimal hack was viable. "Proper" APIs will follow; For example, Fidelity built a proper system (Fidelity Access) in response to all the screen scraping. The Fed is now also standardizing some kind of API I think.
On the other hand, if we could have standard API and let people integrate services, totally welcome that. But let's not pretend this is anything like that.
If you know something more, please educate me.