Atomic’s Payroll Connectivity vs. Plaid

Plaid started their business focused on aggregating and screen scraping user’s data from bank accounts. 

Atomic’s direct integrations with payroll systems through our payroll API are more stable. Atomic does not rely on screen scraping where there is an API to reverse engineer. Fintechs such as challenger banks or neobanks and lenders partner with Atomic to enable their users to access their payroll data to update and change direct deposit, use the alternative data for underwriting loans, among other use cases. 


Why is Atomic’s payroll connectivity advantageous?

Aggregating bank account data through screen scraping is unstable, nullable, the accessible data fields are limited, and data fields like phone numbers are nullable.

Alternately, Atomic’s payroll APIs and direct integrations with payroll providers can return more accurate, accountable, and stable sources of data. Fields included in a data payload include net pay, gross earnings, hours worked, job title, start day, phone number, date of birth, social security number (SSN), among other fields. Customers can pre-pring our API to test the available fields.


How does Atomic’s Deposit product compare to Plaid’s?

Within the last year Plaid announced a direct deposit changing product, which was put on hold during the potential acquisition by Visa. 

We believe that this delay has given us a greater advantage in building out our Deposit product during this time, through payroll connectivity. 

Unlike Plaid, we support fractional direct deposit changing. The demand for this product has grown substantially, especially for lenders focused on subprime consumers. 

The ability of a customer to pay back a loan directly from payroll reduces the likelihood of default, allowing for a larger consumer base and increased profits for companies. 


Why should you use Atomic’s payroll connectivity solution?

Atomic has a number of advantages over Plaid, including:

  • Direct integrations with payroll accounts instead of screen scrapping user’s bank accounts
  • More robust consumer data fields
  • A more advanced direct deposit update and change product
  • Support for fractional direct deposit updates

Would you like to find out more about Atomic’s payroll connectivity solution and how it could help your business? Get in touch using the contact form below or request a demo today and we’ll be in touch.