Income verification tool for Salesforce: Bank Connect
Bank Connect — Powered by Plaid is an advanced bank verification application that streamlines business workflow by authenticating bank account transactions, historical balances, income, assets, etc., inside Salesforce. Cloud Maven, Inc., a Salesforce Certified ISV Partner and the 2021 Salesforce Partner Innovation Award winner, has developed this solution. As the threat of fraudulent activity grows, lenders seek more efficient and cost-effective methods of authenticating bank accounts.
Bank Connect- Powered by Plaid enables lenders to authenticate users’ bank accounts quickly and securely. It helps lenders prevent fraud, increase system trust, and shorten transaction times. It’s also scalable, so lenders can serve more customers quickly. This Plaid verification application enables lenders to understand the borrower’s investments comprehensively by gaining access to their investment accounts and visualizing their finances by quickly retrieving consolidated bank data summaries for informed lending decisions. Lenders can obtain transaction insights from borrowers using any Salesforce standard or custom object. By displaying available balances before transferring funds, it helps to reduce NSF fees and overdrafts. The app enables account pre-funding to gain insight into borrowers’ balances, accepts payments on all accounts, and expedites account onboarding. The entire bank verification process can be automated, eliminating manual errors, delays, and inaccuracies. Using Bank Connect, lenders can verify NPI and authenticate multiple banks with a single request. It works with the Plaid Payment Initiation Product to enable users to make real-time payments within UK and European institutions. The application also can be integrated with Ocrolus and Dwolla.
Using Bank Connect, lenders gain real-time access to 45k+ financial institutions in 8+ countries. It allows them to examine both current and historical transactions. It ensures data security while preventing fraudulent loans. It enables account pre-funding and the ability to send and receive ACH payments via Plaid payment. For a free 30-day trial, this income verification solution is available on Salesforce AppExchange. Email info@cloudmaveninc.com if you have any queries, and you can learn more about different solutions by following Cloud Maven, Inc. on LinkedIn, Twitter, and YouTube.
