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Ask HN: Technically, what is better? Plaid vs. Teller.io
7 points by chirau 1 day ago | hide | past | favorite | 6 comments
I have been seeing a lot of praise,criticism and praise for especially Plaid. I know it also has much much wider adoption. Teller.io's founder, however, always argues that Teller has a better backbone and fundamental infrastructure.

From your understanding of the two, which one is more robust, secure, standard compliant, performant and dare I say 'future-proof', whatever you may make of that.

I take an "aggregator approach" and I have used multiple APIs like Plaid, Finicity, SaltEdge and TrueLayer at my startup. In my opinion: all are far from perfect, though Plaid is moving in the right direction. Finicity is currently my favourite, though they're not "modern" by Silicon Valley standards.

My gripes with Plaid:

- Support really sucks. They have boilerplate answers to common problems, and I have several issues in their backlog (missing transactions, duplicate transactions, failing API endpoints) that have been broken for months. Compared to Finicity, which usually resolves support issues within a week.

- System reliability issues. Completely broken with Capital One (despite continuing to offer it as an "option"), doesn't work with most banks that have 2FA enabled, and still has an adversarial relationship with most banks (though that is changing with the new OAuth connections).

However, Plaid is still by far the biggest, and I trust that these things will improve with time. If I was going to get married to a single provider and I wanted a "future-proof" solution I would bet my money on Plaid.

Global coverage in Europe is a different story. I would go with Nordigen.

I'm sorry for the experience you've been having with support and 2fa -- we're actively investing to improve the story on both of those.

Capital One support has been minimal in the past, but it actually should work MUCH better now that we've switched to supporting them via OAuth. If you are having any problems moving to the OAuth implementation for Capital One, or if you have switched to OAuth and are still having issues, please feel free to reach out to us at @Plaiddev and we'll be happy to help you work through it.

[Discloure: I work at Plaid]

Teller is a much smaller company and operates mostly in Europe, whereas Plaid is much bigger and operates mostly in the US, so this is really an apples and oranges comparison, especially as the ecosystem of connecting to financial institutions is so different across Europe vs. the US. Europe is heavily regulated and provides more standard ways of obtaining data from financial institutions, the US has much less in that regard.

The Teller team as you allude to is proud of their use of reverse-engineered APIs, although IMO this is still relying on undocumented behavior that can change at any time, is subject to being blocked by banks, etc. Basically, it works until it doesn't.

Plaid has committed to moving 75% of traffic to officially supported APIs by the end of 2021. Plaid hasn't said which banks they support via official API versus which ones they support by other means, although there are a few banks/banking platforms that have announced that they connect to Plaid via API, including Jack Henry (supports over 350 institutions), Bank of America, Capital One, US Bank, and Wells Fargo. (Plaid has also created an open API standard for institutions to use, Plaid Exchange, but hasn't published a list of exactly who's on it aside from Jack Henry.)

Plaid supports around 11,500 supported institutions and the list can be found by creating a developer account and logging in to the dashboard.

Plaid, as a bigger company, offers many features and APIs, as well as SDK and client library support for a number of different platforms and languages.

Plaid currently offers a three-nines overall uptime SLA, but things like robustness and performance are going to vary hugely based on your use case and are super hard to talk about in general terms.

Anyway, if you’re considering Plaid for an app you’re building and have any questions, I’d be happy to chat offline (@Plaiddev is a good way to get in touch if you use Twitter).

Always been curious - do you (Plaid) use the transaction data or any other data obtained from customers logins for anything other than the reason the customer supply’s their credentials?

I.e if I use plaid to link to my Robin Hood account, do you in any way sell/share/use my data apart from allowing me to fund my Robin Hood account?

Good question! No, we don't. Our official statement on this is at https://plaid.com/how-we-handle-data/ "Plaid only shares your data with your consent. We don’t share your personal information without your permission, and we don’t sell or rent it to outside companies."

Plaid is crazy expensive. Teller is free, however, does have some connectivity issues with CreditOne.

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