“The data aggregator Plaid is leading the charge for a new data security standard for fintechs. The San Francisco company, which delivers bank account data to 4,500 fintech clients, has recruited other companies to this effort, including the data aggregators Flinks and MX; the employment verification provider Truework; and the security compliance companies Drata, Laika, Secureframe and Vanta. The new Open Finance Data Security Standard was posted online Tuesday and is open for outside comment ahead of implementation next year. It is meant to hold fintechs that handle consumer data to a higher standard of data protection, the way the PCI Security Standards Council’s Data Security Standard guides those in the payment card industry to protect card data.”