ChatGPT & Your Bank: OpenAI's New Finance Feature

OpenAI has launched a new personal finance feature allowing ChatGPT users to connect their bank accounts, credit cards, and investment accounts directly. This feature is currently a preview for ChatGPT Pro users in the U.S., available on web and iOS. To use it, you open "Finances" from the ChatGPT sidebar and link accounts through Plaid, which connects over 12,000 financial institutions. Once connected, ChatGPT can display a dashboard with spending, subscriptions, and portfolio performance. You can ask questions like, "Where did I spend the most money this month?" or add savings goals. This differs from typical banking apps because it can show information across multiple connected accounts. OpenAI states ChatGPT is not a financial advisor and cannot take action like moving money. The company also says ChatGPT can access balances and transactions but not full account numbers, and users can disconnect accounts and delete financial memories. The main concern is data exposure. Connecting accounts gives an outside platform access to sensitive financial data, even with stated protections. This matters because recent breaches in the financial sector highlight ongoing risks with third-party vendors.