Connect foreign accounts with Clara - Plaid

Plaid is an open banking platform that allows users to securely connect their financial accounts to Clara.

What is the purpose of using Plaid?

Clara uses Plaid to easily acquire up-to-date financial information from our clients without the need for periodic documentation requests. This enables us to offer larger lines of credit without regularly asking for updated information.

The connection to Plaid allows Clara to offer higher credit lines with lower risk exposure.

What information does Clara obtain?

Current balance of the connected financial account.

Benefits of connecting with Plaid

• Access to larger lines of credit
• Saves time, as you won’t need to share bank statements manually anymore
• Connection in under 3 minutes
• Keeps your information secure: Plaid ensures the safe transfer of data

How do I connect to Plaid?

1. Log into your Clara platform
2. Navigate to the "Company" section
3. Click on "Connect Foreign Accounts"
4. Select "Connect New Account"
5. Select your bank
6. Enter your banking information (as if you were logging into your bank) and you’re all set!

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