PLAID-IDENTITY

Instant KYC via Open Banking.

Definition

Plaid Identity exploits KYC data already verified by the bank (CRP onboarding) — accessible via OB. Fields: owners (full name), addresses, emails, phones. Use cases: lending, marketplaces, gig economy onboarding. API call pricing.

Origin

Launched by Plaid 2018 ; extended UK via Plaid Exchange (Open Banking FCA) 2021.

Example in context

An SME lending service verifies a borrower identity via Plaid Identity in 30 seconds — bank-sourced data.

Related terms

• Plaid — parent platform.