MK Decision's Digital Account Opening Platform Delivers Bank Account Authentication and Real-Time Funding Powered by Plaid
Community financial institutions gain the power of data to authenticate bank accounts, verify identities, fight fraud, and check account balances through MK's Plaid integration for deposits.
SAN DIEGO, July 22, 2021 /PRNewswire-PRWeb/ -- MK Decision (MK), a family-founded FinTech company, innovates its digital account opening platform by integrating with Plaid, a data network powering the digital financial ecosystem, for bank account authentication and real-time account funding.
Committed to continuous improvement, the MK team introduced Plaid's API for an intuitive digital onboarding experience for deposit accounts. Applicants are guided through a seamless, secure consumer experience with an online Store branded to their institution. After selecting the account they want to apply for, they complete a mobile-first Checkout process with ID Scan to pre-populate application data and electronically sign account agreements. When it comes time to fund their account, the applicant can log in to their existing bank account and choose an account to transfer their deposit effortlessly.
This integration eliminates the need for in-branch deposits or manual bank account data entry, resulting in higher successful funding rates. With Plaid's Auth product, users can authenticate their bank account in as little as seven seconds (Plaid, 2021). Besides the immediate convenience for the applicant, Plaid streamlines the funding process for back-office teams.
"With MK's integration of Plaid's bank account authentication, balance, and identity products, we are helping consumers open new checking accounts and fund them faster than ever before. Now, community financial institutions can do more doing less, using the power of data to make decisions," said MK Decision's Chief Executive Officer Har Rai Khalsa.
About MK Decision
MK Decision's mission is to help community financial institutions thrive by receiving more deposits and more loans. With a commitment to strengthen local economies, MK's platform gives community banks and credit unions a competitive advantage through simple, beautiful customer experiences and streamlined banker workflows. The MK platform supports a variety of financial products including checking & savings accounts, credit cards, and consumer, commercial, small business, and indirect loans. So far, MK has helped over 250 community financial institutions acquire customers online. MK was founded in 2015 and is headquartered in San Diego, California.
Media Contact
Molly Irelan, MK Decision, +1 (844) 888-5565, [email protected]
SOURCE MK Decision
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