Company Category: Merchant Solutions

Plaid is a global data network that powers the tools millions of people rely on to live healthier financial lives. Our ambition is to facilitate a more inclusive, competitive, and mutually beneficial financial system by simplifying payments, revolutionizing lending, and leading the fight against fraud. Plaid works with thousands of companies, including fintechs like Venmo and SoFi, several Fortune 500 companies, and many of the largest banks to empower people with more choice and control over how they manage their money. Headquartered in San Francisco, Plaid’s network spans over 12,000 institutions across the U.S., Canada, U.K., and Europe. | Plaid has built the data sharing rails between 12,000 Financial Institutions and over 7,000 Digital Applications. Over 50% of the US Population has used Plaid to connect their FInancial Lives. If you have ever used VENMO, paid your bill with Comcast or set up a Robinhood Account we are the entity facilitating that in the background. 95% of Individuals and SMB’s in the US are covered by our network.Plaid has entered the Insurance space. We have Unique Data Insights and Capabilities that are relevant to Insurance across Underwriting, Payments, Customer Retention and Acquisition.Below are some Use CasesUnderwriting -Financial Underwriting Data directly from you customers Financial Institution delivered via an API connection for Individuals and Small BusinessesCustomer Acquisitions -Transactions Data provides insights into how the customer is spending money. Insurance Carrier, Amount of Premium paid would be shown.Claims -Fraud Free Claims Payment – at First Notice of Loss set up an Identity Verification + Bank Account Authentication and when you are ready make claims payment via ACH.Consumer Report -A step above a Credit Report provides a real time view of the customers finances including average balances, how many NSF’s they have had etc.Customer Retention -Retain customers by monitoring their bank account prior to payment processing to reduce NSF’s and cancellations. | Plaid is a financial network that serves as the analytics layer for financial services. Plaid’s data analytics solutions deliver faster, safer onboarding, credit decisioning, payments, and anti-fraud. Plaid works with thousands of companies, including fintechs, Fortune 500 companies, and many of the largest banks to empower people with more choice and control over how they manage their money. Headquartered in San Francisco, Plaid’s network spans over 12,000 institutions across the U.S., Canada, U.K., and Europe.