Case Study: Vola (fintech for the financially underserved) saves users $18M in overdraft fees with Plaid

With Plaid, Vola can swiftly onboard users and provide smart tools designed to empower the financially underserved

Vola, a fintech focused on the financially underserved, needed user-permissioned financial data to power personalized services for people with low or no credit. They chose Plaid (using Transactions, Balance, and Auth) to securely connect customer bank accounts and enable fast, reliable onboarding.

With Plaid, Vola accesses transaction and balance data to power smart alerts, budgeting tools, credit-building validation, and interest-free cash advances; Plaid helped Vola save users more than $18 million in overdraft fees, achieve a 99% success rate for account connections, deliver personalized tools within 30 seconds, convert 20% of users to paying customers, and drive an average 53‑point credit score improvement. Plaid remains a core enabler of Vola’s service.

Vola

Tushar Bagamane

Founder