Identity
Verify users' financial account ownership and reduce fraud.
Identify can be used for verifying bank account ownership. Identity helps businesses to verify users' identities by accessing information on file with their financial institution. Using Identity, you can access a user's phone number, email address, mailing address, and name. This can be used to fight fraud by verifying that the linked financial institution account is owned by the same user who created an account with your business. Plaid can also perform identity matching and scoring on information you hold.
Features
Benefits
Features
Identity data from banks
Retrieve and match user names, phone numbers, addresses, and emails for individual and joint accounts—this can be used to complement KYC procedures.Identity Matching
As a part of Identity, Plaid offers Identity Match, where identity data fields such as names, addresses, email addresses, and phone numbers can be matched against the owners’ identity information on connected accounts. Multiple fields are matched in a single request, and a separate score is returned for each field to indicate how closely it matched. Customers using Identity Match can experience onboarding conversion improvements of 20% or more, without increasing fraud rates (versus using their own matching algorithms).Identity Document Upload
In order to provide the user an additional way to verify their account ownership, Identity Document Upload can be used to upload a bank statement, verify that statement belongs to the account in question, and verify the ownership information on the statement. To detect potential document fraud or document tampering during the Identity Document Upload flow, you can use the optional Fraud Risk feature, which scans for over two dozen different fraud signals in categories such as visual evidence of tampering, suspicious metadata, inconsistent contents, and similarity to known fraudulent documents.Benefits
Higher efficacy identity matching
Reduce fraud losses and help prevent account takeovers.