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December 13, 2021

Newsletter - December 2021

Jenny Chiu

In this month's newsletter, learn how we’ve improved identity coverage for longtail financial institutions and increased user-permissions data access for student loans.

Product highlights

More identity coverage for longtail institutions

In addition to improving the identity fill rate for several top financial institutions, we enabled identity support for more than 500 longtail institutions which enabled Auth:Identity coverage to over 90%.

Greater user-permissioned data access for student loans

We increased the fill rate to 72% for the top 15 institutions that support student loans, including Navient, Sallie Mae, Nelnet, FedLoan, and Great Lakes.

An updated Account Select pane for Plaid Link

As a reminder, the updated Account Select pane is now available on Plaid Link. It provides users with even more transparency and control over the accounts they share with you and Plaid. To learn more about migrating to this pane, see our guide or watch this video.

Android 3.6.2, iOS 2.3.1, and React Native 7.2 are available

Stay up-to-date with the latest Plaid Link mobile SDK versions to gain access to new features and maintain healthy integrations. Starting November 1, 2022, all customers are required to be on versions Android 3.5, iOS 2.2.2, and React Native 7.1 or higher if integrating with a mobile SDK. Prior versions will no longer be supported following that date. Please upgrade before November 1, 2022 to avoid disruptions to your Plaid integration.

Help guide our development work for Assets

Your feedback is important to us. As we begin planning for Plaid Assets in 2022, we’d love your feedback on which new features should be built next or where there’s room for improvement.

Virtual events

Webinar: What’s next with Open Banking in Canada? 

Watch our expert panel on what’s next with Open Banking in Canada, the opportunities ahead, and how fintechs and financial institutions can work towards enabling better financial service experiences for consumers. 

Webinar: An Introduction to Embedded Finance 

Embedded finance is changing the competitive dynamics of many industries. According to a new report by Accenture and Plaid, companies embracing embedded finance can increase revenue as much as two to five times per customer. Watch our webinar to learn more from Plaid COO Eric Sager, Accenture Cross-Industry Financial Services Lead Ben Brown, and Unit Finance’s CEO Itai Damti about how companies can unlock new revenue opportunities by surfacing financial products in context and at the point of customer need.

In other news…

Carvana uses Plaid to accelerate the future of payments 

The checkout process can be painful for consumers. With Plaid, Carvana’s customers can connect their bank accounts and start making affordable ACH payments in a matter of seconds. See how they did it.

Varo boosts their success rate for linking customer bank accounts by 15%

In just five months, more than 176,000 Varo customers used Plaid to connect their accounts to outside apps and services. See what else they accomplished.

Metal uses Plaid to prevent more than $75k in fraud—in just one month

In order to make cryptocurrency accessible to more people, Metal needed a way to seamlessly connect users’ bank accounts while protecting them from fraud. Find out what they did next.