June 28, 2017
Now supporting Identity for 300+ institutions
Updated on March 02, 2018
We’re excited to announce today that our Identity product supports more than 300 financial institutions in the United States, from Regions Bank to Ally Bank—a big jump from the 11 we supported at the beginning of this year. These new institutions come in addition to the ones we’ve always supported like Wells Fargo and Bank of America.
We now provide reliable identity data for more than half of all depository accounts in the United States, significantly enhancing the financial ecosystem’s ability to join forces to fight fraud on behalf of consumers. Financial institutions already dedicate significant resources toward verifying consumers’ identity as part of the account opening process. With Identity, financial application developers can compare this information—including the account owner’s name, email, physical address, and phone number—to user-submitted data to protect consumers by detecting anomalies and mitigating fraud.
While much innovation has come to financial services in recent years, fraud has become more advanced, too. Identity validation can be one of the most powerful mitigants against account takeover, user impersonation, and payments fraud. Plus, identity validation can do more than just prevent fraud; it also supports critical services for consumers. For example, bringing identity sharing online makes it possible to digitize parts of the lending process and establish eligibility for key initiatives, including government assistance programs.
Currently using Identity? You automatically have access to these new institutions, and Link instantly includes new institutions as we add to the list. Want to see the full list of institutions we now support? Check out our docs and pull an up-to-date list from our API.