Faster and easier account connection for returning users

One of our goals this year is to consistently level up our product so that you can provide the best experience to your customers. A key part of that is creating a faster, higher converting account connection process that continues to provide a secure and transparent experience. Last year we introduced the all-new Plaid Link with a cleaner, more accessible design and a new returning user experience (RUX) to make account connection easy, simple and intuitive.

Today, we’re sharing more details about RUX, our new feature that helps people who have previously used Plaid conveniently and securely connect to additional apps they want to use. With over 4,000 apps currently powered by Plaid, it’s not surprising that roughly 40% of people using Link are returning users, and that’s why we’re uniquely positioned to provide this enhanced experience for them.

How it works

The returning user experience begins with people providing permission to share their information. They’re then presented with a list of institutions they’ve previously linked with Plaid, making the institution search process much simpler. Depending on the Plaid product(s) you use and your configuration, users may experience one of the following flows when they choose to connect a previously linked institution:

• Pre-authenticated RUX flow: Users can connect their financial accounts by verifying their identity with a one-time passcode. This flow is available for the Transactions, Assets, Investments, Liabilities, and/or Balance products.

• Pre-matched RUX flow: Users only need to enter their password for the previously connected financial institution. This flow is available for all generally available Plaid products.

Overall, this experience can help to reduce the number of steps a returning user needs to take, so they can get started on your app quickly, conveniently, and securely. In fact, during testing, RUX resulted in a 3% lift in conversion on average, with some customers observing even greater lift. 

Plus, since this experience is a feature of Plaid Link, it includes tokenization, which helps to prevent connections from being abused, and encryption, which helps to keep data secure. 

Next Steps

Implementing this feature is fast and easy once you’ve upgraded to Link Tokens. You’ll also need to verify the user’s phone number via OTP prior to the user entering the Link flow in order to enable RUX. Please visit the docs for more details. Additionally, come join us on March 16 where we’ll dive deeper into RUX implementation during the Plaid Workshop: Link Optimization.

On our side, we’ll continue to focus on improving the user experience, leaving you to concentrate on building great products that millions of people rely on to lead healthier financial lives.