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Plaid introduces Layer, a new sign-up feature that promises to increase end-to-end signup rates by 10 – 25%

19 iunie 2024

Plaid announced they introduce Layer, a new platform for secure, instant experiences that transforms how people use financial services—starting with onboarding. 

Tens of millions of people who have opted in to be remembered by Plaid can now complete onboarding to apply for a loan, fund their accounts, and pay a friend—in just a few taps. For Plaid customers, Layer improves conversion by providing all the trusted, consumer-permissioned information needed to onboard a user, just by asking for their phone number. 

Layer helps you satisfy KYC requirements, link bank accounts, and onboard tens of millions of people who have saved their information with Plaid—just by collecting a phone number. Layer reduces the time it takes for someone to sign up for an app by nearly 90% by unifying identity verification and bank account linking into one secure experience.” – said Alain Meier Head of Identity at Plaid.

When a customer collects and shares a user’s phone number, we’ll check if 1) they exist in the Plaid network and 2) their saved information with Plaid meets your onboarding needs with our new eligibility API. Only when both things are true, Layer is presented to the user.” – Meier explained. 

Every company has unique requirements for onboarding. Most companies need a name, address, email, birthdate, and Social Security Number in order to verify identity. Some companies only require a subset of that identity information and a bank account.

Layer dynamically adjusts to your onboarding preferences by allowing you to define what information is required, optional, or not needed.” – according to the Plaid’s representative.

Here is how it works:

1️⃣ You send to Plaid your user’s phone number when they’re signing up for your service. From that, Plaid tells you whether that user is in the Plaid network;

2️⃣ In-network users are given the choice to sign up instantly with Plaid. Layer authenticates the user, and then presents them everything from their name and date of birth to their SSN and their most relevant previously linked bank account;

3️⃣ Your user hits „Share” and instantly permissions their full identity so you can KYC them. This also links a bank account in one tap (for supported institutions).

Speaking about unlocking more secure, instant experiences, Meier concludes: „Layer fundamentally reimagines how people interact with financial services – starting with onboarding on iOS, Android, and desktop. It is now available to all Plaid customers beginning today. Later this year, we’ll share more about how Layer can help you unlock instant resident screenings, bank payments and much more.

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Cifra/Declaratia zilei

Anders Olofsson – former Head of Payments Finastra

Banking 4.0 – „how was the experience for you”

So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”

Many more interesting quotes in the video below:


In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?