August 2018 Summaries

Financial Gym, a New York City-based financial advisory firm, partnered with Plaid to improve their spend-tracking tool, Training Zone. The previous technology failed to provide clean transactional data, hindering the effectiveness of personal trainers in advising clients on budgeting goals. By integrating Plaid Transactions, Financial Gym gained access to real-time, organized financial information from clients' accounts, improving its ability to serve customers and driving company growth.

Placid Express has successfully integrated digital remittance services with built-in security features, reducing fees traditionally associated with credit cards. The company leveraged Plaid's Auth and Identity products to quickly verify bank details and account ownership, while using Balance to minimize non-sufficient funds fees. This integration has led to significant improvements in approval rates, chargeback reduction, and customer service queries, enabling Placid Express to expand its online transfer business with enhanced security and audience experience.

In July 2018, significant updates were made to various aspects of the platform. Auth coverage was expanded to over 3,000 institutions, including Bonneville Bank, Prosperity Bank, and Fidelity Bank. Transactions coverage was also upgraded for more than 400 institutions, providing longer transaction histories, improved latency, and more frequent updates. Additionally, the Dashboard now allows users to view and change their default API version directly from the interface. Furthermore, LinkKit 1.1.10 was released with enhancements such as a better experience for unlocking accounts and the addition of 500 new logos for longtail institutions, along with improved logo quality for existing ones.