Case Study: PadSplit speeds income verification and underwriting with Plaid

A fairer, faster way to unlock affordable housing

PadSplit, a U.S.-based co-living marketplace focused on making housing more accessible for low-income workers, needed a faster way to verify income and underwrite loans. Before using Plaid, the company relied on manual income verification that could take up to five days, creating delays for applicants who needed housing quickly.

By implementing Plaid’s income verification capabilities, PadSplit enabled applicants to securely connect their bank accounts and verify income directly at the source in under 60 seconds. The result: manual income verification dropped by 70%, verification volume increased from a few dozen incomes per week to a few thousand per month, and PadSplit tripled membership year over year without scaling its underwriting team.

PadSplit

Hameto Benkreira

Head of Member Growth