Plaid

Fraud Solution Profile

Used by 1 in 2 Americans, Plaid delivers reliable analytics for financial services. Our network connects over 150 million people, 500 million accounts, and one billion devices to more than 7,000 apps.

This verified banking data serves as a strong foundation for Plaid to deliver fraud solutions that help businesses prevent, detect, and respond to risk across the entire customer lifecycle—from onboarding to payments—without adding friction for legitimate users. This network provides a powerful advantage: fraud intelligence from across the financial ecosystem, offering insights beyond a business’s own data.

Unlike narrow point solutions, Plaid offers holistic protection, integrating global identity verification, document verification, selfie checks, behavioral analytics, device fingerprinting, and transactional intelligence throughout the user journey.

There are a few use cases most relevant to About Fraud’s audience:

Fraud and Risk Prevention

Plaid Protect is an AI-powered fraud intelligence platform built on top of Plaid’s network. This network-driven approach enables companies to take action on emerging fraud patterns that other systems miss by leveraging:

• The Trust Index Score, our machine learning model, that uses over 10,000 attributes from the Plaid network to provide a real-time trust signal, helping you stop fraud early.
• An investigative dashboard where you can ask natural-language questions, quickly investigate patterns, and instantly convert searches into live rules with the no-code rule builder.
• A modular, low-code platform that unifies all Plaid fraud tools. Easily add capabilities like identity verification, transaction risk, and consortium feedback from the Protect marketplace to adapt to evolving threats.

Plaid Signal uses proprietary data models to predict ACH return risk and payment fraud, enabling businesses to minimize losses and optimize approval rates. Together, these solutions give companies a unified view of risk and trust across every stage of the customer journey.

Identity Verification

Plaid’s Identity Verification combines document and biometric verification with database and behavioral checks to meet KYC requirements and reduce online account opening fraud. Businesses can:

• Verify identities in as little as 10 seconds with coverage for 16,000+ document types across 200 countries and territories
• Tailor verification flows to match their risk profiles and customer segments, from quick selfie and ID verification to more advanced checks that include fraud calibration and step-up authentication. 
• Quantify risk for synthetic identities, stolen identities, fraud rings, and bot early in the customer lifecycle 

Compliance

Plaid’s Monitor automates PEP and sanctions screening  – minimizing manual reviews and ensuring ongoing compliance. Businesses can:

• Maintain compliance by screening customers against global, government, and international lists at onboarding and ongoing. 
• Reduce manual reviews with cutting-edge watchlist search algorithms combined with smart auto-assignment and escalation
• Do daily rescans against authoritative sources if needed