Is Finicity Safe? A Fintech Data Security Deep Dive
Understanding Finicity and its Role in Fintech Finicity acts as a financial data aggregator, connecting your bank account to various apps and services without requiring you to share your banking login credentials directly. It uses ACH (Automated Clearing House) transfers—the same system banks use for direct deposit—to securely verify your identity and link your accounts. This convenience, however, introduces a layer of risk. While Finicity acts as an intermediary, protecting your banking login from direct exposure to multiple apps, it also holds your sensitive financial information....