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Capital One, Plaid Reach Truce in Their Customer-Data Fight (1)

June 9, 2021, 2:24 PM

Capital One Financial Corp. inked a data-sharing agreement with Plaid Inc., ending a years-long battle over the way some outside financial-technology apps access the bank’s customer information.

Popular apps such as Robinhood Markets Inc. and PayPal Holdings Inc.’s Venmo rely on Plaid’s connections to financial institutions to display consumer banking data in their platforms. Plaid now accesses Capital One data via the lender’s so-called application programming interface, or API, according to a statement on Wednesday.

“We’re really excited about it,” Becky Heironimus, head of enterprise privacy and data governance at Capital One, said in an interview. “Our consumers now ...