Plaid salesforce integration: 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. Bank account verification tools are essential for lenders to assess lending risks to a customer. Lenders seek tools that can validate an applicant’s banking information accurately and quickly while providing additional security layers to help protect against fraud. An automated bank account verification tools can help lenders streamline their processes and reduce the amount of time and resources needed to verify a borrower’s bank account information. This can help lenders approve loans and disburse funds more quickly, which can improve the borrower’s experience and increase customer satisfaction.
Bank Connect-Powered by Plaid is a comprehensive and user-friendly automated bank account verification tool that offers a wealth of functions at a low cost. Lenders can easily integrate it into their workflow as an API form in minutes. This bank verification application allows lenders to fully understand the borrower’s investments by accessing their investment accounts and visualizing their finances by collecting consolidated bank data summaries quickly for informed lending decisions. Lenders can access borrowers’ transaction details using any Salesforce standard or custom object. It helps to reduce NSF penalties and overdrafts by revealing available balances before transferring cash. The app allows for account pre-funding to gain insight into borrowers’ balances, accepts payments on all accounts, and speeds up account onboarding. The entire bank verification process can be automated, which means fewer manual errors, delays, and inaccuracies. Bank Connect: Powered by Plaid allows lenders to check NPI and authenticate multiple institutions with a single request. It is integrated with the Plaid Payment Initiation Product to enable users to make real-time payments within UK and European institutions. The app connects investment account types — brokerage and retirement accounts, 529s, and HSAs. 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.
