Unlock cash flow underwriting with no code required

Spencer van Erkel
Product Manager, Credit

Spencer is a Product Manager on Plaid's Credit team focused on building solutions to make cash flow data easier to use for customers.

Cash flow underwriting is a powerful tool for businesses. In fact, 83% of lenders say they’re open to using new types of data (beyond credit scores) for underwriting. But the implementation process can be daunting—everything from building a seamless bank linking experience to visualizing and interpreting the data can be complex. 

That’s why we’re introducing the Credit Dashboard, a new no-code solution designed to accelerate speed to market for lenders who are eager to integrate real-time, actionable cash flow data and insights into their underwriting workflows. Lenders can now get started with Consumer Report, our cash flow underwriting solution, with little to no technical resourcing required. 

A seamless and intuitive application experience

Historically, lenders had to embed Plaid Link, our consumer-permissioned account linking experience, into their front-end application. But now, lenders also have the option to take advantage of our no-code experience. Our hosted Link experience can be initiated from the Credit Dashboard and allows lenders to send invitations to loan applicants on-the-go via SMS or email. 

Ready-to-use dashboard for credit risk professionals  

The new Credit Dashboard is designed to be incredibly user-friendly and highly customizable, enabling risk professionals to analyze consumer-permissioned cash flow data and insights—all without the need to write a single line of code. While a full API integration provides the most flexibility and customization, this provides an alternative for lenders who want a quick start and an easy way to visualize data to enhance their existing decisioning process. It empowers loan officers and risk professionals to confidently review and manage underwriting decisions, all within a streamlined, intuitive interface.

The Credit Dashboard offers the following features:

Comprehensive and categorized cash flow information: In the Accounts tab, you can access up to 24 months of consumer-permissioned bank account data through the Plaid Network. This data is categorized into inflows and outflows and includes balance trends, providing a real-time snapshot of a borrower’s financial picture. This enables you to offer more tailored experiences, such as setting credit limits.

Income insights: The Income tab presents calculated income insights, including categorized income streams, historical and forecasted net and gross income, employer information, and projected upcoming paycheck dates. These insights allow you to make smarter credit risk decisions by better understanding an applicant’s ability to pay.

Update report: A borrower’s financial situation is always changing, and we know how important it is for lenders to have ongoing visibility to better support users. You can now trigger an update from the Dashboard to understand changes in financial stability—whether it be a new income stream or an increase in overall cash flow. 

No code, from start to finish

With our credit solutions, you can now go from start to finish without writing a single line of code. Whether you’re a small lender or a large institution, getting started is as simple as logging into the dashboard. 

Our early customers are using our Credit Dashboard to accelerate lending decisions. Here are a few examples:

• Quick start: This solution enables you to go live with Plaid right away, even while you build out the full integration. You can get value from Plaid’s lending solutions on day one.

• Streamlining loan applications at the branch or store: The Credit Dashboard provides all of the necessary tools to easily collect and review applicant information. 

• Personalized lending experiences: Loan officers can use our no-code solutions during a live chat with an applicant or borrower. Agents can text or email a consumer a URL that allows them to connect their financial accounts. 

The Credit Dashboard is essentially cash flow underwriting data in a box.