Plaid Review

Plaid is a technology platform that enables the connection between applications and users’ bank accounts for account authentication, real-time balance checks, identity verification, income validation, asset verification and more yet. Plaid’s Auth solution can be used to authenticate bank accounts for ACH payments without requiring microdeposits, allowing instant authentication of transactions. Users are added with the credential-based flow and account holder information can be retrieved to authorize transactions at any time once a user has been added. The Transactions solution extracts transaction data from the past 24 months, including geolocation, category and merchant information. You can access both pending and completed transactions. Plaid’s Assets solution allows the verification of the borrower’s assets from bank records and generates reports in JSON and PDF formats.


Let’s look at how to install this loan origination software:



  • Encourage users to save money: transactions help users eliminate unnecessary costs and guide users towards investment and savings goals by analyzing up to 24 months of clean, categorized transaction history
  • Enable in-app balance checks: create a unique experience using Balance to allow your users to check the balances of their linked deposit accounts in real time within your app
  • Understand a user’s investments: leverage investments to obtain information about a user’s investment accounts, including account balances, holdings, and transactions that create a change in a holding
  • Help people manage debts: use Liabilities (US only) and Transactions to remind users of upcoming debt payments and suggest refinancing and debt consolidation options
  • Verify borrowers’ resources digitally: Assets provides a consolidated report with account balances, uncategorized and categorized transactions and account identity information
  • Verify the borrowers’ assets digitally: the identity confirms the identities of users with name, telephone number, address and email to reduce fraud
  • Check balances in real time: Balance instantly checks whether users have the funds to make a payment or transfer
  • Change direct deposits: Deposit Switch makes it easier and faster for users to change the destination of their direct deposits
  • Check financial obligations: Liabilities (US only) provides a real-time feed of information about a user’s financial obligations including student loans and credit cards
  • Verify income and employment: Income allows users to quickly verify their income and employment in their preferred manner.


Plaid is a loan origination solution that can be used to prevent insufficient funds (NSF) and overdraft fees for customers by ensuring they have sufficient available balance before transactions are processed.

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You may also be interested in: LoanCirrus

Usability: 7.5 /10 Speed: 9 /10 Features: 8.5 /10 Support: 9 /10 Pricing: 9.5 /10

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