Plaid vs. Trustmatic (discontinued)

Plaid is extremely well suited to be your payment API if you're a start-up looking to scale your banking connections fast and securely. Their API is fully functional upon integration. Most end-users have encountered Plaid before so it's a trusted platform for many consumers so even if you're a new app, users feel comfortable connecting their bank through Plaid.

Incentivized

Trustmatic is best for businesses that use facial recognition or ID verification when accessing their system. It uses AI to protect clients from identity fraud. Clients' data is completely safe since the technology can identify fake documents and distinguish live photos from traps. It searches for images through databases to prevent unwanted users from entering the system

• Plaid connects with 100s of US consumer banks.
• Plaid continuously updates its software to meet the requirements of individual banks.
• Plaid can get your company's payment processing up and running faster than traditional methods.

Incentivized

• Saves time on manual verification
• Fast and seamless integration
• Supporting over 13k IDs all over the world

• Consumer feedback or troubleshooting typically comes back to us because Plaid doesn't have an easy way of re-routing support once a user encounters a problem.
• Update timelines could be clearer when they are working on updating a connection with a certain bank.
• The search functionality for the user to find their bank could be a little more robust.

Incentivized

Better support, better pricing, better features.

• Plaid got us up and running with most US-based and even some international banks with minimal engineering effort.

Incentivized

• Increased revenue
• Saves time on manual verifications
• Less money spent on user acquisition