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Plaid vs SimpleNexus Comparison

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Overview

Plaid is a technology platform which allows users to create connections between applications and bank accounts to authenticate...

SimpleNexus was built to give borrowers, loan originators, and referral partners a simple, streamlined loan process. With...

  • Platforms supported
  • Web-based
  • iPhone app
  • Android app
  • Windows Phone app
  • Typical customers
  • Freelancers
  • Small businesses
  • Mid size businesses
  • Large enterprises
  • Customer support
  • Phone
  • Online
  • Knowledge base
  • Video tutorials
  • Platforms supported
  • Web-based
  • iPhone app
  • Android app
  • Windows Phone app
  • Typical customers
  • Freelancers
  • Small businesses
  • Mid size businesses
  • Large enterprises
  • Customer support
  • Phone
  • Online
  • Knowledge base
  • Video tutorials

Screenshots

Pricing

Starting from

No info

  • Free trial available
  • No credit card required
  • Free account
  • Subscription based
Starting from

No info

  • Free trial available
  • No credit card required
  • Free account
  • Subscription based

User reviews

4.4

5

4

3

2

1

10

2

1

0

1

  • Value for money
  • Ease of use
  • Features
  • Customer support
93%
would recommend this app

4.5

5

4

3

2

1

19

14

1

0

0

  • Value for money
  • Ease of use
  • Features
  • Customer support
97%
would recommend this app

Pros

I so love the Plaid software it makes it so easy to login directly to your online banking account.
I love the interface of a pop-up window that allows the user to log in to their online banking, select the account, and use that to complete an online payment.
I like that you can connect your PayPal account ti have a more secure way to pay for things over the internet. You can also connect your bank account ir other credit cards.

Pros

The Encompass integration is very tight, solid performance. Overall very happy with this platform.
Ease of use - especially from my mobile devices. Being able to text to share is excellent.
The calcultator that can help a client find out their future mortgage payment with a few choices. I also loved the fact that it connected directly to my pricer and I was able to check rates, live.

Cons

WaveApps.com reliance on Plaid a horrible decision.
No app for the software there’s also no way to remember or connect accounts to a profile.
Account connections with mainstream institutions like AMEX regularly break. The connection must be deleted and recreated each time there is a problem.

Cons

Accessing the program is difficult if you forgot your PW. No simple password reminder or reset.
I have been a bit disappointed with the support process when our admin has questions. The response time has been tested at times.
The difficult portion for me as a new builder lender, was the pre-approval letter. It was very hard to customize.
  • Vendor responds to reviews
  • Last review5 days ago
  • Vendor responds to reviews
  • Last review5 months ago

Key features

  • Total features49
  • ACH Payment Processing
  • API
  • Auto Loans
  • Automated Decisioning/Underwriting
  • Bonds / Stocks
  • Borrower Management
  • Brokerage Management
  • Budgeting/Forecasting
  • Business Loans
  • Cash Management
  • Channel Management
  • Client Portal
  • Closing Documents
  • Communication Management
  • Compliance Management
  • Configurable Workflow
  • Contact Database
  • Core Banking
  • Credit Card Management
  • Credit Union
  • Currency Management
  • Customizable Branding
  • Data Verification
  • Digital Signature
  • Document Management
  • Electronic Applications
  • Electronic Signature
  • Financial Reporting
  • For Borrowers
  • For Investors & Traders
  • Forms Management
  • Fraud Detection
  • Geolocation
  • Integrated Vendor Services
  • Investment Banking
  • Investments Tracking
  • Lending Management
  • Loan Management
  • Loan Origination
  • Loan Portfolio Management
  • Loan Processing
  • Loan Servicing
  • Mobile Access
  • Multi-Branch
  • Multiple Format Support
  • Online Applications
  • Online Banking
  • Outsource Processing
  • Performance Management
  • Pre-Qualification
  • Pricing Management
  • Real Time Data
  • Real Time Monitoring
  • Real Time Reporting
  • Retail Banking
  • Risk Management
  • Rules-Based Workflow
  • Source Control
  • Status Tracking
  • Student Loans
  • Task Management
  • Template Management
  • Third Party Integrations
  • Transaction History
  • Transaction Monitoring
  • Web Forms
  • Total features20
  • ACH Payment Processing
  • API
  • Auto Loans
  • Automated Decisioning/Underwriting
  • Bonds / Stocks
  • Borrower Management
  • Brokerage Management
  • Budgeting/Forecasting
  • Business Loans
  • Cash Management
  • Channel Management
  • Client Portal
  • Closing Documents
  • Communication Management
  • Compliance Management
  • Configurable Workflow
  • Contact Database
  • Core Banking
  • Credit Card Management
  • Credit Union
  • Currency Management
  • Customizable Branding
  • Data Verification
  • Digital Signature
  • Document Management
  • Electronic Applications
  • Electronic Signature
  • Financial Reporting
  • For Borrowers
  • For Investors & Traders
  • Forms Management
  • Fraud Detection
  • Geolocation
  • Integrated Vendor Services
  • Investment Banking
  • Investments Tracking
  • Lending Management
  • Loan Management
  • Loan Origination
  • Loan Portfolio Management
  • Loan Processing
  • Loan Servicing
  • Mobile Access
  • Multi-Branch
  • Multiple Format Support
  • Online Applications
  • Online Banking
  • Outsource Processing
  • Performance Management
  • Pre-Qualification
  • Pricing Management
  • Real Time Data
  • Real Time Monitoring
  • Real Time Reporting
  • Retail Banking
  • Risk Management
  • Rules-Based Workflow
  • Source Control
  • Status Tracking
  • Student Loans
  • Task Management
  • Template Management
  • Third Party Integrations
  • Transaction History
  • Transaction Monitoring
  • Web Forms

Integrations

  • Total integrations20
  • Authorize.net
  • Dropbox Business
  • Dynamics 365
  • FreshBooks
  • Magento Commerce
  • Microsoft Dynamics GP
  • Microsoft Excel
  • NetSuite
  • PayPal
  • QuickBooks Online
  • QuickBooks Online Advanced
  • SAP Business One
  • Sage Intacct
  • Salesforce Sales Cloud
  • Shopify
  • Slack
  • Stripe
  • WooCommerce
  • Xero
  • Zapier
  • Total integrations1
  • Authorize.net
  • Dropbox Business
  • Dynamics 365
  • FreshBooks
  • Magento Commerce
  • Microsoft Dynamics GP
  • Microsoft Excel
  • NetSuite
  • PayPal
  • QuickBooks Online
  • QuickBooks Online Advanced
  • SAP Business One
  • Sage Intacct
  • Salesforce Sales Cloud
  • Shopify
  • Slack
  • Stripe
  • WooCommerce
  • Xero
  • Zapier