Banking
Make bank onboarding easy and fast
Or, get API keys
Customers using this solution
The Problem
Opening a new bank account today often requires manually verifying 2 small micro-deposits. This process can take 2-3 days and is prone to user input errors, which can result in lost customers for your bank.
The solution
Plaid allows users to link their bank account securely, in a matter of seconds, using their login credentials. By integrating with Plaid, customers can be up and running with your banking products on the same day. This can mean more active and engaged users for your bank.
15%
Since partnering with Plaid, Varo’s success rate for linking customer bank accounts has improved by 15%.
Products and benefits
Faster account opening and account funding
Auth retrieves account and routing information instantly when users connect their account using login credentials. Plaid works with any ACH processor, including Stripe and Dwolla, to enable fast and frictionless account funding
Seamless user experience
Balance instantly checks whether users have the funds to make a successful payment. Increase your account funding rate with a seamless balance check
Reduce fraudulent sign-ups
Identity confirms users' identities with what's on file at the bank: their name, phone number, address, and email
Beta
Switch direct deposits
Deposit Switch makes it easier and faster for users to change the destination of their direct deposits.
Verify income and employment
Income allows users to quickly verify their income and employment in their preferred manner.
