Overview

Plaid's Identity API enables businesses to verify user identities through bank account information, helping reduce fraud and enhance customer verification processes. It integrates with financial institutions to retrieve personal data such as account holder names, supporting Know Your Customer (KYC) requirements. The product complies with PSD2 regulations in Europe, ensuring secure access to financial data. This API simplifies identity checks for financial institutions and fintechs, improving efficiency and reducing operational costs related to customer service.

Features and Capabilities

• Verifies user identities using bank account data
• Retrieves account holder names for KYC purposes
• Integrates with European financial institutions under PSD2 regulations
• Improves fraud detection and reduces service queries by 50%
• Offers secure and reliable access to financial data
• Supports seamless integration with other Plaid products
• Reduces operational costs for businesses handling identity verification
• Enables rapid onboarding and user authentication processes
• Flexible API for easy integration into financial apps
• Provides scalability for businesses of all sizes