Changelog - August 2020 banner


May 18, 2023

April 2023 Changelog

Al Cook

In case you missed Threads 2023, we launched a number of enhancements to our flagship products like Identity Verification, Link, and new products like Plaid Beacon. But that’s not all. While it may be the summer time but we never stop shipping🚢 - check out our latest products, features and fixes.

Account Connectivity

Featured product: Link

What's new:

🔗 Seamless OAuth: Say “goodbye” to confusing UI bugs and “hello” to a seamless OAuth process! We added a loading spinner transition after you tap "Continue" on the OAuth pane, so you'll know when Link is hard at work behind the scenes redirecting you to the external bank website. No more awkward pauses!

☄️ Smoother login experience: We added clear instructions for institutions like Wealthfront and Betterment that require app-specific passwords/tokens to connect via Plaid. These instructions are presented before the Credentials Pane, so users will know exactly what to do in order to connect their accounts. No more confusion - just a straightforward and hassle-free process.

🔁 Keep your SDKs up to date: Update to iOS SDK v4.3.0, this version is a smaller update (20% smaller to be exact) but with big impact. Upgrading to this version not only improves performance, its reduced app size means faster app updates and happier customers. For Android users, update to our latest version v3.12.1 and while you’re at it, check out our latest React Native version v10.3.0.

Account Verification & Payments

Featured products: Signal, Transfer

What’s new:

🚀 New Transfer Real-Time Payments (RTP) demo: Last month, we added RTP as a supported rail to our Transfer product. With Instant Payouts, you can send funds instantly to any eligible account (person or business), at any time. Check out our demo to see it in action!

What’s better:

📈 Performance improvements to Signal: We drastically improved the performance and accuracy of Signal’s customer-initiated return risk score by overhauling our model and retraining more data and labels. How drastic? We’ve already seen 2-5X performance improvements.

🏃‍♀️ Improved Transfer onboarding: To speed up customer onboarding for bank-linked transfers, we made it easier to understand what we need from you for approval. With these new improvements, you get faster access to our product, a better experience, and up to 40% less follow ups.

Personal Finance Insights

Featured products: Transactions, Investments, Enrich

What’s new:

🛍️ Make sense of messy data: Enrich your transactions with Plaid Enrich! You now have access to Enrich via the Plaid developer dashboard. Want to test drive it before buying? Test out the integration in our SandBox with sample transaction data from our docs

What’s better:

📅 Recurring transactions: Subscriptions, bills, loan payments, and payroll income–you can now keep track of all of this with our new (`is_recurring`) field in Enrich. 

🤝 Investments Coverage: You asked, we delivered! We are now live with Optum Financial & Prudential Retirement! 

🛍️ New merchant enrichment: We added more heuristics to help us select the best match from a broader pool of merchant candidates and to make it easier for you to  identify those longtail in-store merchants. No more guessing or frustration, just accurate and reliable transaction matching.

🛠️ Sync API improvements: We made some serious upgrades and enhancements to boost reliability. We also made it possible for you to migrate to Transactions Sync without retrieving any historical transactions. Check out how here.

Open Finance

Featured product: Integrations

What’s new:

🌎 More integrations: Our American Express integration went global: now live in the UK, France, Italy, and the Netherlands. 

✅ 100% API migration: We’ve now migrated 100% of our traffic to APIs for financial institutions including: Capital One, JPMorgan Chase, USAA, and Wells Fargo. Migration to additional institutions including RBC, Citibank, and M&T in the coming months.

What’s better:

🏦 Improved connectivity: We made meaningful improvements to our Starling Bank integration with our new API integrations.

Fraud & Compliance

Featured products: Identity Verification, Monitor

What’s new:

🎖️ Automatic handling of military IDs: Auto-failing military IDs and complying with federal regulations just became a whole lot easier. Now, every time a military ID is detected, it will auto-fail and the document image will be redacted from our database and your dashboard. Now, you can sleep well knowing that sensitive document images will never be stored in our database.

🤳 Portrait mode: We made it possible to require photo portraits to be present on ID documents. Flip the switch in the template editor, and we'll reject any IDs that aren’t photo IDs, making it easier to comply with local regulations.

🤝 Everyday, 24/7 IDV: We added extra redundancy to our vendors to make sure IDV is up and running smoothly for you all the time. You don't need to do anything different, just keep on IDV-ing around the clock.

What’s better:

📝 Doc verification improvements: We made general improvements to the document verification experience so that it can handle different devices and software versions.

📱 Updated user experience: Consumers abandoning verification because they can’t see how many retries they have left? We got you. Our updated flow now shows the number of ID document attempts remaining before a user gets locked out!

🗓️ Chronological return verifications: The `identity_verification/list` endpoint will now return verifications in reverse chronological order.

What’s fixed:

🐛 Bug Bash: We squashed 19 bugs this month!

📷 Improved ID document capture: Using iPhone SE? No problem, our new doc capture can now dynamically optimize for smaller screens.

🚢 Monitor data antics: Now you can make updates to data on Monitor for an entity via API.

📷 No more camera stutter: Shaky hands? No problem. We fixed a rare issue on Android devices that could cause the camera feed to stutter, making it easier to capture photos.

Credit Underwriting

Featured product: Income

What’s better:

🔍 Frequency enhancements: We made improvements to `pay_frequency` fill rates for Bank Income. We also introduced a shiny new `DAILY` frequency type. Perfect for those income streams that see small transactions every day.


Featured product: Wallet Onboard

What’s better:

🔖 Refreshed Wallet list: You’ll find more wallets supporting WalletConnectV2 for more seamless and secure connections. Plus, we added newly released wallets like Uniswap to make sure you have access to the latest and greatest.  

🧯 We now detect more Firefox Add-Ons wallets, so you can easily connect your MetaMask to the wallet of your choice. We also fixed those pesky errors that would pop up when changing networks under certain circumstances.

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