Plaid is a third-party service that Forma partners with to facilitate back account verification. Plaid’s software sits as an intermediary between your bank or credit card accounts and other financial companies’ apps.
Plaid currently connects with a variety of large bank and credit card companies including Bank of America, Wells Fargo, American Express, and U.S. Bank, as well as smaller institutions. As part of our process when selecting partners and vendors, we review standard aspects of the third-party’s security and privacy practices.
Plaid holds ISO 27001, 27701, and SOC2 Type 2 certifications. We also continuously monitor and periodically re-certify our partners and vendors.