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