I'm not interested in defending Reverb, I just want information that makes sense and that fits the experience I, and others, have had and that fits into what I know about how their systems need to work.
Plaid is trying to provide a simple interface for companies who need to talk to user's bank accounts. There are thousands of banks, credit-unions, financial institutions, etc. in the U.S., all with different ways of connecting. Companies that need to move money have to write and maintain APIs, and they break every time the user's "bank" changes their method of connecting. It's hugely expensive and frustrating for the company, and for their users. Plaid has a simple API and they handle the work of managing that connection. "
Why is Plaid involved?" discusses it. As an IT-kinda guy, this is a MAJOR improvement for the companies, and lets them focus on their core tasks. I'd do it if I was a CIO/CTO/CFO if the offering company had the credentials to prove they were responsible for their data and the data connections. "
How we handle your data" is also useful.
