OpenAI previews ChatGPT feature to connect to bank accounts via Plaid

In short: OpenAI is previewing a way for ChatGPT users to connect their bank accounts through Plaid.

What happened

OpenAI announced a preview feature that would let people “securely connect” ChatGPT to their financial accounts using Plaid. Plaid is a service that many banks and finance apps use to pass account information between them, like a secure bridge (think of it as a trusted connector that helps apps read your balance and transactions).

The Verge reports that Plaid works with about 12,000 financial institutions. The list includes major names such as Chase, Capital One, Fidelity, and Schwab.

With this connection, ChatGPT could use your real financial information when you ask money-related questions. For example, the article suggests the chatbot could know details such as how much credit card debt you have, assuming you link the relevant accounts.

Why it matters

Linking a chatbot to bank accounts could make personal finance advice more tailored, since it would not rely on you manually copying numbers into a chat. But it also raises privacy and security questions for everyday users. Sharing financial data with any app, even through a well-known connector, means you should understand what data is being accessed, how it is stored, and how to disconnect it later.

Source: The Verge AI