Plaid bank verification
Bank Connect, powered by Plaid, is an application that automates business workflow by connecting lenders and borrowers to make lending decisions inside Salesforce. Cloud Maven, Inc., a certified Salesforce ISV Partner and the 2021 Salesforce Partner Innovation Award recipient has developed this solution. It offers various products, consulting, and advisory services to help businesses achieve technological goals.
Utility companies must authenticate customers’ bank accounts for billing and payment processing. Many traditional methods of bank account authentication involve manual processes
This native Salesforce solution solves all difficulties at such a vital moment! Assessing a borrower’s bank data helps utility companies make informed lending decisions by eliminating delays, inconveniences, and inaccuracies. The bank information is displayed on a simple dashboard that contains historical balances, assets, transaction history, etc. Using Bank Connect, companies can seamlessly connect with consumers and merchants’ bank accounts in seconds using Plaid. It allows them to instantly pull data from multiple countries and instantly get financial information, such as transactions, income, investments, balances, etc., inside Salesforce.
The system is fully automated, resulting in error-free and fast application performance. With an overview of the transaction history, companies get instant financial data from any Salesforce standard or custom object. This solution provides a smooth client experience for all types of accounts. This Plaid verification tool can help utilities in several ways:
- Streamlining the payment process for customers
- Reducing the risk of fraud
- Improving customer experience
- Reducing operational costs
- Improving data security
The account onboarding process for this App is quicker and accepts accounts from foreign banks. This solution lets utility companies view the borrower’s available funds before any transfer, reducing NSF fees and overdrafts. They can significantly reduce their time on verification by using Bank Connect to authenticate multiple banks with a single request. Thanks to Plaid’s payment integration, users can now make real-time payments inside the UK and European institutions. Utility companies can use the App for identity and income verification.
Bank Connect-Powered by Plaid is also integrated with Ocrolus and Dwolla, enabling faster and more accurate lending decisions. For a free 30-day trial, this income verification app is available on Salesforce AppExchange. If you have any queries, email info@cloudmaveninc.com. Follow Cloud Maven, Inc. on LinkedIn, Twitter, and YouTube to learn more.
