Case Study: NFTYDoor speeds up income verification with Plaid

NFTYDoor speeds income verification by 50% with Plaid

NFTYDoor, a company that provides digital home equity lines of credit (HELOCs), faced a challenge with slow and error-prone manual income verification processes. This traditional document-based method was causing applicant drop-off and limiting the company's ability to scale. To address this, NFTYDoor turned to Plaid and its income verification solution.

By implementing Plaid's solution, NFTYDoor automated borrower income validation using secure bank data. This integration streamlined their lending process, leading to an 85% applicant conversion rate. Most notably, Plaid helped NFTYDoor increase its income verification turnaround time by 50%, allowing the company to approve qualified borrowers in hours instead of days.

NFTYDoor