These refinements provide Plaid’s customers with more detailed data that they can use to design products. For example, with these new categories, digital finance providers can better understand users’ earnings, earned wage access providers can forecast payouts and adjust limits, and personal financial management apps can deliver more accurate tax estimates and personalized insights.
| less than a minute read
Plaid launches predictive transaction categories to support AI for banks
“Financial experiences are rapidly shifting toward personalized, predictive interactions powered by AI,” the company said in a Wednesday (Dec. 3) blog post. “Delivering those experiences requires highly accurate transaction data, not just raw descriptors.”
