Relevant section for the "we do store your password" case:
In other cases, when you link a financial institution to an app via Plaid, you provide your login credentials to us. We store those credentials and use them to collect the data to power the services you’ve chosen and, when requested, securely share it with the app you’re using and establish a secure connection that you control. We then help keep your data safe and private with best-in-class encryption protocols.
Meaning exactly nothing. "encryption protocols" may simply mean that when they log in to screen scrape your bank's online banking they do so over HTTPS.
Sorry but this has zero meaning and I maintain: Red bloody flag. If there's any actual proof out there of them doing all this in a secure way, I'm happy to have my mind changed but this is just part of said marketing fluff.
Like Synapse, this sounds like the "put all your eggs in our digital basket" style of fintech "disruption" is bound to blow up in the faces of everyone involved.
Sorry but this has zero meaning and I maintain: Red bloody flag. If there's any actual proof out there of them doing all this in a secure way, I'm happy to have my mind changed but this is just part of said marketing fluff.