What is Plaid?

Plaid operates as a global data network that supports various tools that help countless individuals achieve better financial well-being. Our goal is to create a financial ecosystem that is inclusive, competitive, and advantageous for all by streamlining payment processes and transforming the lending landscape.

Collaborating with over12,000 businesses, including popular fintech platforms like Venmo and SoFi, as well as numerous Fortune 500 firms, Plaid empowers users to have greater autonomy and flexibility in managing their finances. Based in San Francisco, the company's network encompasses more than 12,000 institutions across the United States, Canada, the United Kingdom, and Europe, ensuring a wide reach and impact in the financial sector. Additionally, Plaid is dedicated to fostering innovation that enhances user experiences in financial transactions.

Pricing

Price Starts At:
Free
Price Overview:
Test for free
Free Version:
Free Version available.

Integrations

Offers API?:
Yes, Plaid provides an API
All Plaid Integrations
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Screenshots and Video

Play Video IDV Link Flow Plaid Link Flow Plaid Bank Income Link Flow Plaid Signal Dashboard Plaid Sample Asset Report

Company Facts

Company Name:
Plaid
Date Founded:
2013
Company Location:
United States
Company Website:
plaid.com
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Product Details

Deployment
SaaS
Windows
Mac
iPhone
iPad
Android
Training Options
Documentation Hub
On-Site Training
Support
Standard Support

Product Details

Target Company Sizes
Individual
1-10
11-50
51-200
201-500
501-1000
1001-5000
5001-10000
10001+
Target Organization Types
Mid Size Business
Small Business
Enterprise
Freelance
Nonprofit
Government
Startup
Supported Languages
English

Plaid Categories and Features

eCommerce Integration Software

Unified APIs

Open Finance Platform

Open Banking Platform

Online Banking Software

Brokerage
Cash Management
Chat / Messaging
Credit Card Management
Electronic Statements
Fraud Detection
Loan Management
Marketing Automation
Retail Banking
Single Sign On
Transaction Monitoring

Mobile Banking Software

Bill Payment
Biometric
Cash Management
Chat / Messaging
Cross Selling Functionality
Digital Wallet
P2P Payments
Remote Deposit
SMS Banking
Transaction Monitoring
Voice Banking

Loan Servicing Software

The Plaid Consumer Report empowers lenders by providing cash flow data that complies with FCRA regulations, delivering essential insights into income, asset confirmation, and current account activities. This information enables lenders to make informed decisions with greater assurance. Utilizing Plaid's distinctive network insights, lenders acquire a comprehensive understanding of a borrower's financial wellness, applicable at every stage of the lending process. The introduction of the Plaid LendScore offers a ready-to-use risk assessment tool, allowing financial institutions to enhance their underwriting accuracy, approve borrowers with higher qualifications, and minimize losses through intelligent, data-informed evaluations.

Accounting Management
Amortization Schedule
Application Management
Auto Loans
Automatic Funds Distribution
Business Loans
Collateral Tracking
Collections Management
Compliance Management
Construction Loans
Customer Database
Fee Management
Investor Management
Loan Processing
Student Loans

Income Verification Software

Identity Verification Software

Plaid provides a robust suite of tools designed for identity verification and fraud prevention. The Plaid Identity Verification (IDV) feature enables businesses to confirm customer identities through methods such as document verification, liveness tests, and validation against various data sources. Additionally, the Monitor tool allows clients to identify if their customers appear on any government watchlists by screening for sanctions, politically exposed persons (PEPs), and other watchlists, ensuring compliance with anti-money laundering regulations. Plaid Protect is an advanced AI-driven fraud detection platform that safeguards the entire customer journey—from initial engagement to transaction completion. Leveraging Plaid's extensive network, which connects to over a billion devices through more than 7,000 applications, Protect empowers companies to combat complex fraud scenarios, including account takeovers (ATOs), first-party fraud, and synthetic identity fraud.

Fraud Detection Software

Plaid provides a robust suite of tools designed to verify identities and minimize fraudulent activities. The Plaid Identity Verification (IDV) feature enables businesses to authenticate their users through various methods, including document validation, liveness checks, and verification against trusted data sources. Additionally, the Monitor tool assists clients in identifying customers who may appear on government watchlists by conducting screenings for sanctions, politically exposed persons (PEPs), and other watchlists, ensuring compliance with anti-money laundering regulations. Meanwhile, Plaid Protect serves as an AI-driven fraud detection platform that monitors and prevents fraud throughout the entire customer journey, from initial engagement to transaction completion. Leveraging Plaid's extensive network, which connects over a billion devices across more than 7,000 applications, Protect empowers businesses to combat sophisticated fraudulent schemes, including account takeover (ATO), first-party fraud, and synthetic identity fraud.

Access Security Management
Check Fraud Monitoring
Custom Fraud Parameters
For Banking
For Crypto
For Insurance Industry
For eCommerce
Internal Fraud Monitoring
Investigator Notes
Pattern Recognition
Transaction Approval

Financial Services Software

Analytics
Branch Optimization
Channel Management
Compliance Management
Customer Engagement
Performance Management
Risk Management

Financial Risk Management Software

Compliance Management
Credit Risk Management
For Hedge Funds
Liquidity Analysis
Loan Portfolio Management
Market Risk Management
Operational Risk Management
Portfolio Management
Portfolio Modeling
Risk Analytics Benchmarks
Stress Tests
Value At Risk Calculation

Financial Reporting Software

"What If" Scenarios
Audit Trail
Balance Sheet
Cash Management
Consolidation / Roll-Up
Forecasting
General Ledger
Income Statements
Multi-Company
Multi-Department / Project
Profit / Loss Statement

Financial Data APIs

Embedded Finance Platform

Crypto APIs

Banking Software

ATM Management
Compliance Tracking
Corporate Banking
Credit Card Management
Credit Union
Investment Banking
Multi-Branch
Online Banking
Private Banking
Retail Banking
Risk Management
Securities Management
Transaction Monitoring

Bank Verification Software

Plaid presents a versatile collection of products designed for account linking, risk management, and money transfer, making bank payments more efficient and scalable than ever before. Their comprehensive suite includes Auth products, featuring instant Auth that covers 95% of U.S. bank accounts, as well as database Auth for wider access, complemented by Identity services to confirm account ownership. The Signal platform for payment risk offers options for real-time balance verification and machine learning-based transaction risk assessments, all facilitated through a hosted rules engine with an easy-to-use no-code interface, allowing for immediate action on risk insights. Plaid's Transfer solution supports various payment methods such as ACH, RTP, FedNow, and Request for Payment, incorporating Signal for integrated risk management. This cohesive suite simplifies the process of connecting accounts, mitigating risk, and facilitating confident money transfers.

Authentication Software

Biometric
Credential Management
Knowledge-Based Authentication
Mobile Authentication
Multifactor Authentication
Out-of-Band Authentication
Policy Management
Self Service Portal
Single Sign On
Social Sign On

More Plaid Categories

Plaid Customer Reviews

Write a Review
  • Reviewer Name: A Verified Reviewer
    Position: Product
    Has used product for: 2+ Years
    Uses the product: Weekly
    Org Size (# of Employees): 1 - 25
    Feature Set
    Layout
    Ease Of Use
    Cost
    Customer Service
    Would you Recommend to Others?
    1 2 3 4 5 6 7 8 9 10

    Plaid review.

    Date: Nov 02 2022
    Summary

    I think Plaid is a much better platform than other alternatives out there, like a Yodlee, it has much better design and just really gets the job done.

    Positive

    Good at what it does, fairly easy to set up and offers a lot of flexible customization features for bringing people into your financial apps.

    Negative

    Not a lot to hate about Plaid, I think the pricing can start to creep up if you have lots of users connecting their banks.

    Read More...
  • Reviewer Name: A Verified Reviewer
    Position: Coordinator
    Has used product for: 6-12 Months
    Uses the product: Monthly
    Org Size (# of Employees): 100 - 499
    Feature Set
    Ease Of Use
    Would you Recommend to Others?
    1 2 3 4 5 6 7 8 9 10

    Easy to use on the customer side

    Date: Jan 25 2022
    Summary

    Overall happy with how easy it is to use on the customer side of the product. Not sure what it is like on the business side.

    Positive

    I have dabbled in the business side of plaid but as a customer it was easy to use. This review is more for businesses to hear what a customer thinks. I like how this works with cards. It's nice to be able to trust where you are putting your card info.

    Negative

    Nothing major. Have had issues with Discover not being accepted randomly until try 3.

    Read More...
  • Reviewer Name: A Verified Reviewer
    Position: Customer Care Coordinator
    Has used product for: Less than 6 months
    Uses the product: Daily
    Org Size (# of Employees): 1 - 25
    Feature Set
    Layout
    Ease Of Use
    Cost
    Customer Service
    Would you Recommend to Others?
    1 2 3 4 5 6 7 8 9 10

    Plaid is a decent software

    Date: Jun 18 2021
    Summary

    PLAID is a decent software that connects banks to other banks. It is affordable and allows companies a cheap option for bank details.

    Positive

    PLAID is quick and easy to use when connecting your bank accounts. Support response time is quick and efficient, something solutions are not found immediately though.

    Negative

    The back-end for companies could use some work it is very confusing. Submitting tickets are confusing and difficult. It is near impossible to get a ticket entered without having to deep dive into the transactions and finding request codes.

    Read More...
  • Reviewer Name: A Verified Reviewer
    Position: Customer Care Coordinator
    Has used product for: Less than 6 months
    Uses the product: Daily
    Org Size (# of Employees): 1 - 25
    Feature Set
    Layout
    Ease Of Use
    Cost
    Customer Service
    Would you Recommend to Others?
    1 2 3 4 5 6 7 8 9 10

    Plaid connectivity

    Date: May 18 2021
    Summary

    Overall Plaid has been instrumental in the development of our company. There are issues that eventually get smoothed out. This is a great option for startup companies and relatively easy to use. The only suggestion is to upgrade the search bar to offer an advance setting to find banks easier.

    Positive

    Plaid was able to integrate banks that were not currently available. The time frame was six months but the integration process happened in three months. That was great as we can offer our services to more customers. Plaid has the vast majority of major banks, not so much smaller banks and credit unions.

    Negative

    There is no search option on their website to see if the bank institution is available through plaid. This would make it easier to let customers know right away instead of creating a fake application and searching on a live application.

    Read More...
  • Reviewer Name: A Verified Reviewer
    Position: Intern
    Has used product for: 6-12 Months
    Uses the product: Weekly
    Org Size (# of Employees): 20,000 or More
    Would you Recommend to Others?
    1 2 3 4 5 6 7 8 9 10

    Supports most major banks

    Date: Jul 17 2020
    Summary

    Fantastic experience using Plaid. Highly recommend it for apps that need to accept a variety of payment methods.

    Positive

    I'm a huge fan of how easy Plaid's API makes it to enable connecting different payment sources from different banks. The user logs in with the same online banking credentials they normally do, and the data stays where it's supposed to.

    Negative

    Nothing, really. From a user experience perspective Plaid's doesn't leave much to be desired.

    Read More...
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