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A better way to approve borrowers for auto loans

Plaid’s lending solution drives efficiencies throughout the loan lifecycle from pre-approvals to servicing. Get in touch to learn more.

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Applying and getting approved for a car loan can be a cumbersome process that requires a considerable amount of paperwork and time from both lenders and borrowers.

Plaid provides auto-lenders with access to bank data to make informed loan decisions and reduce fraud risk—resulting in a faster, streamlined loan experience. Plus, bank accounts can be linked in seconds for loan repayments.

Plaid enabled Shift to offer a fully integrated online purchasing experience. The financial aspects of the process are much more seamless.
James Wu, Software Engineer at Shift See the full case study
PRODUCTS AND BENEFITS
Verify borrower assets digitally

Assets provides a snapshot of a borrower’s finances including account balances and transactions. The data is reported directly from the bank to help reduce fraud risk.

Validate income without pay stubs

Income analyzes bank deposits to help validate a borrower’s income and employer information more accurately.

Better loan servicing

Auth pulls users’ account and routing information which can be used for ACH loan payments.

Check balances in real-time

Balance instantly checks whether users have the funds to make a loan payment to reduce NSFs.