Currently, your members cannot fund their accounts immediately, and a funded account could take an hour or days to complete. Because of that, members might decide not to open a new account or drop out of the application flow altogether because it’s just taking too long.
With Plaid, accounts are instantly authenticated and verified. Your prospective members can link their new application to a funding source in just seven seconds – and funds are verified while transaction risk is also assessed. Don’t you want seamless processing and funding with Sharetec OMS 2.0 and Plaid? The only answer is yes.
At Sharetec, we want to bring on best-in-class integration partners,
so Plaid was a no-brainer. Plaid offers a sleek, efficient user experience with Plaid Link,
which includes near-universal coverage across financial institutions in the U.S. and Canada.
Plus, with Plaid, it’s easy to handle complex tech challenges like input validation,
error handling, and multi-factor authentication. And ICYMI, Plaid boasts industry-leading security measures
with certifications in globally recognized security standards.
That's trusted by businesses and users alike
That are funding sources found on Plaid
Applications Build-On Plaid
There’s proof in the pudding, and numerous Plaid customers have seen awe-inspiring results, including a 130% boost in conversion rate.
You can also boost your initial account funding and drive revenue. One of Plaid’s credit union partners grew their initial funding by 397%! They also found that member loyalty and engagement increased because they could create a deeper initial relationship by providing their new members with a convenient and secure account funding process.
When users decide to fund their new application in Sharetec OMS 2.0, they’ll be provided with a user-friendly, simplistic design that ensures they’ll convert quickly. Your members will have a low learning curve and quickly be able to search for the financial institution they will pull funds from.
Your members’ data will be secure, as all their sensitive data (like credentials!) will be sent to Plaid servers via a secure HTTPS connection. Plaid also supports MFA and includes data permissioning management.
Contact your Sharetec Account Manager today and experience the immense benefits of Plaid and Sharetec Online Member Services 2.0!