Saturday, 10 June 2017

What is Plaid and How to use it?

  • Plaid - Plaid builds the technological bridges between financial institutions
and third-party applications, provide financial solution.

  • Solution
    1. AUTH : ACH authentication (account and routing numbers).
      • ACH - Automated Clearing House (ACH),  is a secure payment transfer system that connects all U.S. financial institutions. The ACH network acts as the central clearing facility for all Electronic Fund Transfer (EFT) transactions that occur nationwide, representing a crucial link in the national banking system.
    2. Accounts : Account names and types
    3. Transactions : Contextualized account and transaction data
    4. Income : Income validation
    5. Identity : Name, phone number, email, and physical address
    6. Balance : Real-time balance checks
  • How to start?
    • Create a login account, its free for sandbox.
    • Verify your email.
    • Login to dashboard
  • Collect Sandbox API KEY
    • Login > Account > Keys
    • Collect client_id, public_key, public_key, Secret
  • Use any of libraries
    • Official
      • Node JS
      • Python
      • Ruby
      • Java
    • Legacy
      • Node JS
      • Python
      • Ruby
      • Go