In an article titled "Plaid – A Modern API for Card Data", Glenbrook's Russ Jones writes for PaymentsViews.com about Plaid - a new startup company that Russ says "is making the first serious attempt we’ve seen in a while that rethinks the quality of the transaction data."
Every consumer knows how confusing it can be to open up a statement or view their recent activity and find a bunch of transactions for purchases that are not obvious at first glance or maybe not even obvious after a detailed investigation. What is this? Is this a gas station? Was that me or somebody else using my card? And that’s with human reasoning. It gets a lot worse when you try to couple that level of transaction data quality with analytics and third party apps.
Be sure to read more of Russ' thoughts - and share your comments!