Reviewed by Sam Xu
Melbourne AI Expert
Overview
Plaid enables companies to turn data into revolutionary financial products by connecting to real-time insights on the Plaid Network for fast, safe, and smart financial experiences. It offers solutions for the internet's fastest financial onboarding, fast and secure payments, network-powered fraud signals, cash flow data for underwriting, and open finance solutions. The network grows daily, powering products with new data and insights from the world's largest open banking data network.
Key Features
- Fastest financial onboarding to increase conversion, fight fraud, and onboard customers in seconds.
- Seamless bank payments designed to deliver higher conversion rates and increase revenue.
- ML-powered fraud signals to stop identity fraud, account takeovers, and risky payments.
- Real-time cash flow insights for smarter underwriting to approve more qualified borrowers and reduce risk.
- Open banking solutions to meet requirements and simplify data connectivity for customers.
- Access to data from 12K banks via APIs, allowing focus on experiences without data acquisition stress.
- Network supporting 1 in 2 U.S. adults for trusted experiences.
- Up to 25% higher conversion in sign-ups with easy onboarding.
- Over 500K daily connections for new data.
- Operations in 20 countries for scaling adoption.
Pros & Cons
Pros
- Leading open banking network with 12K+ bank connections
- Fast onboarding and fraud detection
- Powers 1 in 2 U.S. adults
Cons
- Significant dissatisfaction with the payment system, including invisible transaction limits, frequent failures, and excessive delays.
- Universally negative customer service described as non-existent, unhelpful, or bot-based.
- Unreliable website and app with frequent problems.
- Difficulties connecting accounts, often resulting in error messages or lockouts.
- Repeated complaints about software not working, rejecting credentials, and requiring multiple logins or verifications.
- All displayed reviews are negative, with no positive ratings shown.
What Users Say About Plaid
Quotes from G2, Reddit, and other public reviews
- All displayed reviews are negative, with no positive ratings shown – Various users, Trustpilot.
- Significant dissatisfaction with the payment system – User, Trustpilot.
- Universally negative customer service – User, Trustpilot.
- Unreliable website and app – User, Trustpilot.
- Difficulties connecting accounts – User, Trustpilot.
- Software not working – User, Trustpilot.
Pricing
See website
See official website for current pricing.
Affiliate link · Not financial advice
Final Verdict
Plaid is a leading fintech infrastructure provider enabling seamless financial data connections, but user reviews highlight significant issues with reliability and customer support. It may suit developers building fintech solutions, but caution is advised due to reported problems. This is not financial advice; always conduct thorough due diligence.
Affiliate link · Not financial advice
About the Reviewer
Sam Xu
Verified ExpertMelbourne AI Expert • Melbourne, Australia
Sam Xu is a Melbourne-based AI specialist with over 8 years of experience in fintech and AI tool evaluation. He has researched 100+ investment tools and helps traders and investors choose the right technology for their needs.
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