With Unqork’s new Plaid component, Creators can securely connect their applications to a wide spectrum of financial institutions and services—all from a single component, with a single login, and without a single line of code.
Dealing with financial data in your applications isn’t easy. Integrating bank account data, for example, means having to build and maintain connections to each individual bank. (To put that task in perspective, there are over 5,000 banks just in the US alone!) It was an almost impossible task...that is until Plaid came along.
Recently acquired by Visa, Plaid is a fintech platform that empowers developers to seamlessly integrate bank and payroll data into their applications, which can be translated into powerful, personalized digital products and services. Credentials are never shared with the application and information is encrypted end-to-end—this ensures safety and security for both Creators and users, without sacrificing functionality.
Now, the power of Plaid is available to Unqork Creators for immediate use in their applications. Creators can access all of Plaid’s endpoints including over 11,000 financial institutions across the US, Canada, and Europe—as well as payroll data from ADP, Paychex, Intuit Payroll, Gusto, and Zenefits. Watch this short video below to see how the component works:
See how easy it is to add complex financial functionality to your Unqork application.
With Plaid, Unqork Creators will have the capability to support new functionality such as secure customer onboarding, robust financial self-management, personalized product suggestions based on detailed transaction histories, or real-time account balance verification to discern up-to-date financial health, just to name a few.
In fact, the partnership has already made a big impact. The Unqork Plaid component was a key part of our Small Business Lending Platform, which was designed to rapidly process Payroll Protection Program (PPP) loans. The Platform leveraged Plaid’s Auth and (PPP) Verification endpoints to securely connect data to the system (Auth pulled in bank account and routing numbers, while PPP Verification pulls in the business’s payroll information from providers like ADP and Gusto). Built and deployed in only two weeks, the Platform made it easy for loan applicants to link their financial information to the system, which automatically applied qualification criteria and packaged the application for efficient review by the underwriting teams.
With the power of Plaid, Unqork Creators will be empowered to build complex, scalable financial applications without writing a single line of code. We can’t wait to see what you create!