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September 22, 2022

Customer Newsletter

Rubi Santoro

Updated on October 25, 2022

November, 2022

What’s New 

Meet your borrowers’ needs with our new credit features 

A tough economic landscape offers opportunities for lenders. This is the best time to review your origination process, create clear digital transformation goals and implement technologies to speed up your cycle and drive down costs. Our latest updates to our credit products, Income and Assets, can help lenders expand credit to more customers, offer competitive loans, and reduce risk and fight fraud through automation.

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Unlock instant ACH and reduce ACH return risk with Signal 

With Signal, you no longer have to make that hard choice between risk reduction and growth. Built on Plaid’s open banking platform, Signal is a machine-learning risk engine that predicts return risk and fraud for ACH transactions. For each transaction, Signal analyzes over 1,000 risk factors and returns risk scores, risk tiers and more than 60 attributes for faster, more confident bank payments. Reach out to your account manager if you are interested in learning more.

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The next phase of bank payments – safer, smarter, faster 

Through our partners, Plaid’s APIs help power nearly a billion ACH-based transfers every year across thousands of apps, making it easier for people to fund new accounts and digital wallets, make investments, and send and receive payments.  In our latest blog post, John Anderson, our Head of Payments, outlines Plaid’s efforts towards safer, more convenient bank payments and previews Plaid’s plans to accelerate adoption of real-time payments (RTP) and emerging rails with FedNow. We are partnering and actively building our solution via our Transfer beta to be available early 2023. Reach out to your AM if  you’re interested. 

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Stay on top of your customers’ subscriptions and bill payments

Recurring Transactions identifies your customers’ subscriptions, bill payments, and account deposits. With this feature, you can help them reduce spend from unwanted subscriptions and build credit with on-time bill payments. And to make it easier to track changes over time, our webhooks notify you when there are updates to existing recurring streams or when new ones are added. Request access to Recurring Transactions in the Plaid Dashboard. 

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Webinars & Events

 

American Banker Web Seminar: Prepare for the next evolution of open finance in the U.S

November 30 | 2 p.m. ET / 11 a.m. PT

Governments across the globe are embracing open finance as consumers increasingly demand digital tools and services to better manage their financial lives. Join Plaid’s Leigh Lytle and industry experts from the Consumer Bankers Association and the American Bankers Association for a webinar on how organizations of all sizes can prepare for the future. 

Register now 

Executive Fireside Chat: Maximizing margins in a challenging lending market

Is there a better way to orchestrate the lending process amidst rising interest rates and recession fears? Hear from Michelle Boros, Head of Product, Credit at Plaid and John Forrester, Head of Product at Ocrolus on how you can leverage technology to optimize your lending workflows for both the booms and busts of the economy.

Watch the recording

Discord AMA: Connect crypto wallets with Wallet Onboard 

Last month we introduced Plaid’s newest solution: Wallet Onboard, a developer-first wallet onboarding experience for crypto and web3. In our recent Discord AMA, we discussed how you can unlock connectivity to over 300 self-custody wallets like MetaMask, Coinbase Wallet, and Ledger through one simple SDK integration. 

Watch the recording

In other news…

MSU Federal Credit Union enables better data connectivity with Plaid 

Learn how MSUFCU unlocks data connectivity, improves connection health, and dramatically reduces support ticket volume with Plaid’s Data Connectivity solutions. 

Read the story

Build the future of digital finance, together

We’re asking for feedback on Plaid, including what you want us to improve on or build in the next 6 months. Your insights matter as it helps guide our development work. Share your thoughts and ideas via Productboard. Just confirm your email address in order to submit feedback.

Get started


October, 2022

What’s New 

Connect crypto wallets with Wallet Onboard 

Introducing Plaid’s newest solution: Wallet Onboard, a developer-first wallet onboarding experience for crypto and web3. Unlock connectivity to over 300 self-custody wallets like MetaMask, Coinbase Wallet, and Ledger through one simple SDK integration. To learn more, join us for a Discord AMA (Ask Me Anything) on November 1 at 10 a.m. PST.

Introducing new data sharing privacy tools

Plaid's recently launched Privacy Controls suite is a collection of open finance data privacy tools. Included is a new API product, Permissions Manager, which enables your organization to build your own consumer permissions portal. It gives your customers greater visibility and control over Plaid-powered data sharing connections. Reach out to get started.

New Identity Verification features 

Plaid introduced two new Identity Verification features to help improve conversion and reduce fraud. IDV’s new autofill experience speeds up verifications without sacrificing security by using our network of bank-grade data that meets CIP requirements, autofill populates identity information like full name, address, and SSN. We’ve also added more intelligence to our fraud detection engine to analyze behavioral attributes during the verification process. By assessing device behavior and how a user enters their PII, IDV detects risky behavior consistent with bad actors, fraud rings, and bots. Reach out to our team to get started with IDV.

Fast and high-quality transaction data enrichment at scale

Introducing a new API that can categorize and enrich the transaction data you retrieve directly from end-users, payment processors, and data aggregators. Securely send Plaid your data and we’ll return actionable insights including merchant names, logos, websites, and categories. Additionally, we’ll identify and label counterparties involved in a transaction including payment apps, financial institutions, and delivery marketplaces like DoorDash. Explore how Plaid can add meaning and context to your messy data. Send us a note to get started. 

Plaid Academy: Auth in 3 Minutes

Want additional guidance on implementing Plaid Auth? Check out this short tutorial video. New Plaid Academy videos are regularly added to our YouTube channel.

We’re on Discord

Join our (beta) Discord community for developers, where you can hang out and chat directly with your peers as well as members of the Plaid engineering team. Fill out this super-short application to get started. 

In other news…

The Fintech Effect 2022

We’ve just released The Fintech Effect: Stability, impact and building for the future. Explore why consumers keep using fintech tools and how you can innovate to build the future of digital finance. Download it here

Betterment grows the lifetime value of users 

Discover how Betterment uses Plaid to seamlessly onboard users and drive engagement with more personalized user experiences. Read the story.


September, 2022

What's New

Improvements to the Usage page in Dashboard

Want more insight into your cumulative and daily Plaid usage? Now, you can view your usage whenever you want so you can better anticipate associated spend, instead of waiting until your monthly invoice becomes available. See your usage now

Introducing Data Transparency Messaging (Beta) in Link

To give consumers even more transparency in Link, we’ve introduced a new feature to show them the types of financial data an app is requesting. To learn more about implementing this feature, please see our migration guide

Stay up-to-date on Nacha’s Operating Rules

Staying compliant with Nacha’s ever-changing rules can be a challenge. As a preferred Nacha partner, Plaid helps you keep your business up-to-date and delivers a safe and secure ACH experience for your customers. Want to know more about Nacha’s latest updates and how Auth can help you stay compliant? Read our latest blog.

Join us on Discord

Plaid has launched a (beta) Discord community for developers, where you can hang out and chat directly with your peers, as well as members of the Plaid engineering team. To join us, just fill out the super-short application. 

Reminder: Upgrade to the latest Link SDKs

To provide an optimal experience for your customers, upgrade to our latest SDKs: Android 3.10.1, iOS 3.1.0, and React Native 8.0.0. Please note thatPlaid will no longer require an SDK upgrade by 11/2/22 and will maintain support for versions prior to Android 3.5, iOS 2.2.2, or React Native 7.1.1. However, we highly recommend upgrading your SDKs to the latest versions See the latest releases.

Webinars & Events

Executive Fireside Chat: Maximizing margins in a challenging lending environment

September 29 at 1pm ET

Join Melissa Boros, Head of Product, Credit at Plaid and John Forrester, Head of Product, Ocrolus for a fireside chat on how to drive revenue growth by automating the lending process using Plaid & Ocrolus.

Register now 

Tech Talk: Get more new customers at a lower cost with Plaid IDV

On-demand 

In case you missed it, hear from Plaid’s Head of Identity, Alain Meier, as he discusses how Plaid Identity Verification and Monitor can help you do more with less—that means onboarding more new users while saving your risk and compliance teams hundreds of hours every month. 

Watch here 

In other news…

Q&A with Dominic Bennett, Co-founder & CTO at Klover 

Discover how Klover drives engagement through actionable insights and seamless user experiences with Plaid. Read more