New Assets features including transaction insights

Since introducing Assets earlier this year, we received a lot of great feedback from lenders about how they are using the financial data accessed through Plaid to make better and more timely credit decisions. With this feedback, we’ve worked to build new features that will make it even easier for lenders to work with the financial data they need.

Assets + Insights

Accessing the right data is essential to helping lenders obtain a holistic picture of a borrower’s financial health. Our newest feature Insights equips lenders with detailed transaction data including cleaned transaction strings, locations, merchant names and categories--all in one consolidated report. Having these additional details enables lenders to build models to more efficiently gauge an applicant’s eligibility and automate processes.

Lenders can choose to retrieve an Asset Report with transaction data as returned by the bank, or cleaned and categorized by Plaid. To get started, contact your Plaid account manager and check out our API docs.

1{
2    "account_id": "O6Jk7Q8dkkSgzDppMKzJsmzdgzmomgi80gQeb",
3    "account_owner": null,
4    "amount": 45.67,
5    "category": [
6       "Shops",
7       "Supermarkets and Groceries"
8    ],
9    "category_id": "19047000",
10    "date": "2018-10-20",
11    "date_transacted": "2018-10-20",
12    "iso_currency_code": "USD",
13    "location": {
14       "address": "265 Winston Dr",
15       "city": "San Francisco",
16       "lat": 37.726755,
17       "lon": -122.475643,
18       "state": "CA",
19       "store_number": "236",
20       "zip": "94132"
21    },
22    "name": "Trader Joe's",
23    "original_description": "TRADER JOE'S #225 QPS SAN FRANCISCO CA",
24    "payment_meta": {
25       "by_order_of": null,
26       "payee": null,
27       "payer": null,
28       "payment_method": null,
29       "payment_processor": null,
30       "ppd_id": null,
31       "reason": null,
32       "reference_number": null
33}
34

Account filtering

To help simplify and improve the underwriting process, you’ll now be able to specify which accounts are included on an Asset Report. Review our API docs to see how to filter accounts in your next Asset Report.

Data refreshes

You can now refresh an Asset Report to retrieve the latest account balances and transactions for a borrower. Refreshing an Asset Report will create a new report based on the parameters of the previously created report. This feature can be used at the time of loan close to get updated information or to verify that certain deposits or transfers have settled.

With these new features, lenders will be able to simplify and automate processes for their team, and for borrowers.

We look forward to making continued improvements to our Assets products. If you have any feedback, drop us a note from your dashboard or connect with us on Twitter.