Newsletter - January 2022

In this month's newsletter, learn about expanding coverage for customer authorizations, as well as our upcoming Tech Talk with Plaid CEO Zach Perret on January 24 at 9 a.m. PT , where we’ll discuss the latest fintech trends and predictions.

Product highlights

Coming soon: Automatic update to the Account Select pane for Plaid Link

As a reminder, if you take no action by March 31, 2022, the updated Account Select pane will automatically be included in Plaid Link. This update provides users with even more transparency and control over the accounts they share with you and Plaid. To learn more about this migration, see our guide or watch this video. 

Update to the latest mobile SDK to access new features, bug fixes and optimizations

Android 3.7.0-rc1 and iOS 2.3.2 are now available, while React Native 7.3.0 will be available the week of 1/24/22.

Expanding Transfer - Beta: A complete ACH solution

Transfer simplifies ACH by enabling secure customer authorization, transaction-risk analysis, and payment initiation. We’re now expanding our beta program, so contact our sales team or ask your Account Manager for more information.

Expanding Auth & Identity co-coverage to 97%

For customer authorization for ACH payments, Plaid recommends leveraging both Auth & Identity to reduce unauthorized returns and supplement your KYC processes. Now, 97% of all Auth accounts will return first and last name. Reach out to your Account Manager to add Identity to your customer authorization process for ACH payments. 

App-to-App OAuth testing is available in Sandbox

You can now test a sample App-to-App OAuth flow in Sandbox using the “Platypus OAuth App2App Bank” institution (ins_132241).

Virtual events

Fintech predictions with Plaid CEO Zach Perret

1/24 at 9:00 a.m. PT

Join us for our first Tech Talk of the year with our CEO Zach Perret to discuss some of the biggest fintech trends from 2021 and predictions for the year ahead.

In other news…

Ellevest uses Plaid to increase conversion rate by 111%

When Ellevest’s financial data provider made it difficult for users to connect their financial account, their conversion rate dropped. After switching to Plaid, they saw their rate more than double. See how they did it.

Stash boosts deposits by 19%

To get more investors on the platform, Stash needed an easier way for users to link their financial account. That’s when they switched to Plaid and immediately onboarded 21% more customers. Read the story. 

Savi users connect their loan data 5x better with Plaid

Before Savi can help a student get out of debt, they need a full understanding of a user’s debt situation. Plaid helped their users connect their loan data 5x better than their previous provider. Learn more.