Plaid
Financial infrastructure for modern digital products
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This API is best for creating financial applications and services that access user banking data.
Plaid is a secure way to access user's banking information. It allows developers to build powerful applications that both meet industry standards for data security and increase user trust and conversion. Plaid makes it easy to interact with hundreds of banks and enables complex financial functions such as ACH and SEPA transfers.
Key features
- Codeless bank integration
- secure onboarding
- Bank Verification Number verification
- data security
- increased user conversion
- real-time reporting
- and support for ACH
- SEPA
- and other wire transfers.
Potential use cases
- 1. Paycheck Deposit Automation: Allow employers to automatically deposit the salary of each employee into their bank account - reducing the need to manually hand out cash or cheques.
- 2. Crowdfunding Platforms: Create a platform that securely collects and stores money for crowdfunding campaigns directly from the participants' bank accounts.
- 3. AI Retirement Investment Platforms: Build an AI powered retirement funds investment platform that automatically uses users' bank accounts to buy, sell, and invest funds.
Using Plaid made it incredibly easy to securely access our users' banking details so that they could easily transfer money to our platform. It is by far the most secure and user friendly way to get our customers up and running. Highly recommended!
Related Technologies
- Stripe
- Flutterwave
- AuthO
- Square
- Dwolla
- Transferwise