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Plaid

Plaid Inc.

Solution(s): Auth, Identity, Balance, Signal, Transfer, Protect
Website(s): plaid.com (Off-site)
Contact: plaid.com/contact

Inclusion of a provider in the exchange does not reflect any recommendation or endorsement by the Federal Reserve, or any relationship between the provider and the Federal Reserve. Learn more.

Services and products to support the FedNow® Service

Plaid is a global open finance platform that enables organizations to build safe, seamless digital financial experiences. Through a single API, Plaid connects applications to over 12,000 financial institutions and more than 7,000 digital financial services, helping people securely use their financial data across the apps and services they choose. Plaid’s platform spans several core solution areas: payments (account verification, account-holder identity, real-time balance checks, ACH and instant bank payments, and payment risk analytics); fraud and risk (global identity verification, fraud intelligence, watchlist screening and networked risk signals); personal finance insights (transaction, investment, liabilities and enrichment data); credit underwriting (cash-flow-based income and affordability insights); and open finance and onboarding (bank account connectivity, consent and permissions management and developer-friendly connectivity for 12,000+ institutions). Organizations use Plaid to power use cases ranging from account funding, bill pay and disbursements to lending, budgeting, wealth management and business financial management. Plaid provides modern APIs, SDKs and dashboards so that both financial institutions and technology companies can launch and scale innovative products quickly while meeting stringent security, compliance and consumer-permission standards.

Segment type(s)

  • End-User Service Provider
  • Financial Institution Service Provider

Solution type(s)

  • Account Tokenization
  • Digital User Experience (mobile/online interfaces)
  • Pay by Bank
  • Payment Service Providers
  • Payments Hubs/Platforms/Payment Gateways
  • Risk Management and Fraud Services

Use cases/markets served

  • Bill Pay and Presentment
  • Brokerage
  • Buy Now Pay Later
  • Construction
  • Digital Wallet Funding/Defunding
  • Government (e.g., municipality, state, federal)
  • Health Care
  • Insurance
  • Loans (direct or indirect)
  • Merchant
  • P2P Payments
  • Payroll
  • Real Estate (e.g., escrow, property management)
  • Transportation

FedNow functionality supported

  • Fraud Prevention/Monitoring Service
  • Receiving FedNow Transactions
  • RFP Transactions – Businesses Receiving
  • RFP Transactions – Businesses Sending
  • RFP Transactions – Consumers Receiving
  • RFP Transactions – Consumers Sending
  • Sending FedNow Transactions – Business Accounts
  • Sending FedNow Transactions – Consumer Accounts

Ability to integrate with outside core processing solutions

  • Yes, any (core agnostic)

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Note on exchange information

Federal Reserve Financial Services (FRFS) is solely a host for the information presented in this Innovator Exchange and the inclusion or exclusion of a provider should in no way imply any relationship with, or recommendation or endorsement by, the Federal Reserve. Exchange presenters are not utilized by the Federal Reserve for the production or delivery of the FedNow Service. FRFS takes no responsibility for the content or accuracy of the information presented. Users of the exchange should perform their own due diligence on providers. See the Terms of Use and Privacy Policy for additional information.