Plaid has proved to be an effective way to onboard customers for a Fintech or enterprise products. Brex used Plaid to look at the account balance to decide your credit limit available to you. Almost every Fintech company has to depend on Plaid to provide personal bank account or business bank account access to onboard a new customer.
We recently looked into HR integrations when we started working on Swifteam and discovered most of IT solution providers still made on top of Microsoft Active Directory and Google Workspace. AD and Google Directory represents a portion of company employee data and often lacks crucial data like employment date or work address. An employee's home address or personal information are valuable data for IT systems because some remote workers are no longer required to go to a central work location. But it will require substantial work to integrate so many HRIS systems.
There is actually 2,000+ payroll and HR systems in the US alone. It is significantly less concentrated than the banking ecosystem, and lots of employers are still using long-tail HRIS systems. Luckily, we found two options. Both Finch and Merge.dev offer one-click HRIS integration similar to Plaid. New generation of Enterprise and IT platforms can provide quick onboarding for new customers to import their employees data. With a few clicks, you can integrate employee data with other business essential tools to get your jobs done faster and cheaply.
We can not recommend either Merge.dev or Finch because of our limited experience on both platforms. But they certainly create new possibilities for software vendors to create a new stream of tools for startups and enterprises.