Newsletter - May 2021

In this month's newsletter, read about our latest features, quality improvements based on customer feedback, and our newly launched incubator, FinRise, which supports founders that are Black, Indigenous, or People of Color.

Product highlights

Onboard users faster with Plaid's new returning user experience (RUX) for Link: Built for consumers who’ve previously linked a financial institution with Plaid, this simplified flow gets users started on your app quickly and conveniently. In fact, during testing, RUX resulted in a +3% lift in conversion on average, with some customers observing even greater lift.

Find known issues in the Dashboard more easily: You can now search for Support cases in the Dashboard by affected institution_id. This feature can help your Support team determine if an issue has already been filed by someone else on your team. 

Help solve user issues with our new Item Debugger and improvements to Institution Status: In February, we introduced the new Item Debugger in the Dashboard to give you a comprehensive view of Plaid Items in one place, and released new improvements to Institution Status. We have now rolled out these improvements to 100% of dashboard users.  

Recommended updates to your Link integration: Link tokens are the latest and preferred method of integrating with Link. They offer a secure and clean integration that will serve as the foundation for new features like RUX. Updating the iOS SDK (v2.1.0) and Android SDK (v3.2.1) you use is also recommended, so you can access new features and bug fixes.

Building a better customer experience for you: Last quarter, we dedicated even more resources to conduct customer interviews with the aim of better understanding your pain points, feature requests, and more. With your feedback in mind, we implemented a number of improvements and will continue to do even more work throughout 2021.

Additional enhancements to institution search messaging in Link: Now, when a user searches for a financial institution that isn’t compatible with your app (based on the products you use), an explanation pops up specifying that Plaid doesn’t support the connection.

Looking for our Changelog? You can find it in our docs.

Virtual events

Tech Talk: Gain a better understanding of your users’ financial lives - May 26 at 11am PT: Tune in to our next tech talk as we dive deep into our Transactions product to show you how we parse and normalize messy transactions data, so that it’s easier for developers to glean meaningful insights to power their apps. Register now

In other news

Using transactions data to help members build financial stability: SaverLife is an automated savings tool for people who are financially vulnerable. With Plaid, members more than triple their savings rate within six months of joining the platform. Read the case study

Introducing Plaid’s FinRise class of 2021: We’re excited to announce our inaugural cohort of five early-stage fintech startups who are working to simplify payments, build wealth, improve access to credit, and improve financial wellness for all. Learn more