Convex
Plaid
| Feature | Convex | Plaid |
|---|---|---|
| Pricing | Free / from $25/mo | Free / from $0/mo |
| Free Plan | ✓ Yes | ✓ Yes |
| Rating | 4.5 / 5 | 4.2 / 5 |
| Best For | full-stack-developers, real-time-apps, startups, rapid-prototyping | fintech-startups, banking-apps, lending-platforms, financial-aggregators |
| Founded | 2021 | 2013 |
| Real Time Database | ✓ | ✗ |
| Serverless Functions | ✓ | ✗ |
| File Storage | ✓ | ✗ |
| Authentication | ✓ | ✗ |
| Scheduling | ✓ | ✗ |
| Vector Search | ✓ | ✗ |
| Bank Connections | ✗ | ✓ |
| Transaction Data | ✗ | ✓ |
| Identity Verification | ✗ | ✓ |
| Balance Checks | ✗ | ✓ |
| Payment Initiation | ✗ | ✓ |
| Income Verification | ✗ | ✓ |
| Asset Reports | ✗ | ✓ |
✓ Convex Pros
- Real-time by default
- TypeScript-first
- Built-in auth and file storage
- Automatic caching
✗ Convex Cons
- Vendor lock-in
- Newer platform
- Limited to Convex runtime
✓ Plaid Pros
- Connects to 12,000+ financial institutions
- Industry standard for fintech bank connections
- Strong security with bank-level encryption
- Free sandbox for development and testing
✗ Plaid Cons
- Per-connection pricing can be expensive at scale
- Some banks have unreliable connections
- Pricing not transparent (sales-driven)
The Verdict
Convex is built for full stack developers and real time apps, with a focus on real-time-database and serverless-functions. Plaid targets fintech startups and banking apps and leads with bank-connections and transaction-data.
On pricing, Plaid is the clear winner for budget-conscious users — starting at $0/mo compared to $25/mo for Convex. That $25/mo difference adds up quickly for growing teams.
Both offer free plans, so you can test each with your real workflow before committing to a subscription.
Feature-wise, Plaid offers broader built-in capabilities (7 features vs 6), while Convex takes a more focused approach — which can mean a simpler, faster onboarding experience.
Bottom line: Convex has a slight overall edge — but if connects to 12,000+ financial institutions matters most to you, Plaid may still be the right call.