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September 16, 2022

How Betterment enables 91% of users to maintain a higher median account balance with Plaid

Sam Glaser

For anyone wanting to create their own investing portfolio or avoid paying unnecessary taxes, Betterment's goal-oriented tools and automated technology is making it easier than ever to get started.

Founded in 2008 during the global financial crisis, New York-based Betterment is the largest independent online financial advisor in the United States. With 730,000 customers and counting and more than $33 billion of assets under management, it was among the first to pioneer the use of automated technology in order to make investing easier, better, and more accessible. Today, Betterment offers two service options: Betterment Digital provides users with automated portfolio management. Betterment Premium gives them access to unlimited phone access to certified financial planners.

Many of these offerings require access to a customer's outside financial accounts in order to provide personalized finance insights. But this can be challenging due to high friction during the onboarding process which can have a negative impact on the user experience and lead to lower engagement.

Betterment needed a simple, fast, and reliable way to onboard more users and access to the diverse financial datasets and insights in order to create sticky experiences for their users.

That's when they turned to Plaid.