Our strategy has always been to build the API for bank account linking, but we also aim to leverage the data we collect to create valuable analytics products that can transform financial services.

Our initial idea was to use credit card data to help investors make better investment decisions, and now we also work with companies, not just investors.

We aimed to build an analytics platform that allows investors to answer their own questions using credit card data.

We initially tried various methods like mental tabs and spreadsheets, but they were cumbersome. Even using Venmo felt silly for small amounts exchanged frequently.

We were looking for unique angles in the payments space, such as anti-fraud solutions.

Hiring a business development person early on was crucial, as they helped us establish important relationships with banks.

We faced challenges in providing flexibility in rates and creating a single API for platforms to sell travel without needing to build every component from scratch, which is essential for a fintech company like ours.

As we evolved, we expanded our product offerings to include credit verification and bank payment infrastructure, allowing for seamless financial transactions and identity verification.

We built Plaid to create a new financial infrastructure that allows consumers to link their bank accounts to digital applications, addressing the outdated banking system that required in-person visits for most transactions.