SAN FRANCISCO, April 17, 2018 /PRNewswire/ -- Plaid, the technology company powering many of the largest and fastest growing applications and businesses in financial technology, is excited to announce the launch of its newest product, Assets.
The launch of Assets, which was released in beta in 2017, marks an important step in the digitization of the loan application process. With Assets, lenders can now embed Plaid directly into their applications to drive operational efficiency and help ensure information completeness and integrity.
Assets is also a key win for borrowers; they can now share with lenders the information they need, in seconds, directly from the source. Given the wide array of tools and services powered by Plaid, the account linkage experience will likely be familiar to the user.
Plaid Assets is also now an accepted provider of asset verification for Fannie Mae's Desktop Underwriter® (DU®) validation service, part of its Day 1 Certainty™ initiative, which offers peace of mind to lenders by providing rep and warrant relief on verified loan components. Fannie Mae has seen loans with assets validated through the DU validation service close 17% faster on average.
"Plaid's journey in mortgage is just getting started. We look forward to providing the industry with solutions that better serve borrower needs across the loan cycle, and building more partnerships with leaders like Fannie Mae to deliver solutions that benefit both lenders and borrowers to move the industry forward," said Kate Adamson, Head of Mortgage at Plaid.
Since its founding in 2012, Plaid has set out to enable innovation throughout financial services. Plaid allows innovators to create new products and applications that connect consumer's bank accounts with the financial applications they use to better their financial lives. Applications powered by Plaid benefit tens of millions of consumers.
Plaid is the technology platform providing the tools and access needed for the development of a fully modern, and digitally-enabled financial system. Plaid makes it easier and safer for developers — from the smallest startups to the largest financial institutions — to build innovative financial services and applications. Plaid offers beautiful consumer experiences, developer-friendly infrastructure, and intelligence tools that give everyone the ability to build the future of financial services.