Bank Linking Glossary
Here is a glossary of Meld terms related to Bank Linking.
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Account -- Your Meld account, which represent your company.
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Customers -- A customer you create with Meld. A single customer usually represents a single person or business and can have multiple bank connections. Track customers using a customerId, which a Meld generated unique ID, or if you have your own Id, you can pass it in as the externalCustomerId.
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Service Provider -- A service provider aka provider is the entity that is responsible for completing a connection between a user and bank account. Plaid, Finicity, MX, Yodlee, and Salt Edge are all service providers.
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Connection -- A connection is a link between a service provider and a login to a bank. A connection can have several financial accounts associated with it, for example a checking account and savings account. A connection is tied to a particular institution.
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Institution -- A financial entity where one stores money. A bank is the most common type of institution. Credit unions are another type of institution.
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Financial Account -- Financial accounts include a checking account, savings account, 401k, IRA, credit card account, etc. A single connection can have multiple financial accounts, and individual accounts may support different sets of products. For example, credit card accounts don't support identifiers (aka routing and account numbers).
Relationship Diagram
Updated 2 months ago