Power efficient underwriting processes with Plaid

A guide on how leading companies are using Plaid to supercharge the lending process

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Power efficient underwriting processes with Plaid image
20%
YouLend is able to lower interest rates an average of 20% for applicants who link their financial accounts with Plaid

<60s
PadSplit uses Plaid to verify a borrower’s income in less than 60 seconds

150%
With Plaid, Bluevine applicants complete the application process 150% faster than those who use manual methods

About the report

The user experience is the single-largest differentiator between successful lenders and unsuccessful lenders. But it’s not just about providing a simpler, more personalized experience, it’s about knowing how to leverage user-permissioned data to offer more competitive rates and better loan outcomes.

In this guide, we share how leading lenders at YouLend, PadSplit, and Bluevine use Plaid to improve decisioning and underwriting, provide best-in-class conversion, and tailor solutions to their data and underwriting needs.

Topics include:

  • How to offer the most competitive loans using detailed borrower bank account and income data
  • How to reduce reliance on manual upload and review processes through direct-from-source data
  • How to build intuitive and efficient lending applications to optimize for conversion
Credit underwriting whitepaper secondary image
“The cash flow data that customers make accessible through Plaid allows us to better manage credit risk. With a more complete financial picture, we’re able to evaluate individuals more accurately than traditional credit scoring alone.”
- Roy Simkhay, VP of Product Management, Petal