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Sandbox Banking Partners with Plaid to Strengthen Identity Verification and Elevate Banking Solutions

Sandbox Banking Partners with Plaid to Strengthen Identity Verification and Elevate Banking Solutions

Sandbox Banking, a trailblazing provider of banking automation solutions that accelerate digital transformation through their Integration Platform as a Service (IPaaS), Glyue, and Plaid, a data network powering the digital financial ecosystem, have announced a partnership that strengthens automated identity verification, addressing key challenges in the financial industry.

Sandbox Banking’s consumer-centric innovation is at the forefront of the digital banking experience. The collaboration focuses on integrating proprietary Customer360 module and customer experience workflows from GlyueTM with Plaid’s cutting-edge Verification solution. Using Plaid’s product, Sandbox Banking provides financial institutions with a comprehensive suite of tools to enhance customer or member engagement, mitigate risks, and fortify account security as banks and credit unions invest in digital banking and transformation strategies.

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“Our collaboration marks a pivotal moment in the evolution of financial technology, uniting two industry leaders to drive innovation, elevate end user experiences, and reinforce security measures,” expressed Kelsey Saia, VP of Partnerships at Sandbox Banking. “Bolstering the era of digital transformation in banking, this partnership is shaping a tech experience that is not only secure and efficient but also aligned with the dynamic needs of modern account holders and institutions alike.”

A key highlight of this collaboration is the integration of Plaid’s advanced Identity Verification capabilities with Sandbox Banking’s proprietary Customer Experience workflows. By combining strengths, financial institutions can create a comprehensive and secure ecosystem that integrates the Virtual Call Center, IVA (intelligent virtual assistant), IVR (interactive voice response) with the core banking software. Account holders experience a more secure and efficient authentication journey, contributing to enhanced customer or member trust and data security.

The partnership focuses on Sandbox Banking’s exclusive Customer360 product with Plaid Identity Verification. Customer360 seamlessly integrates customer data across platforms, ensuring real-time updates while Plaid Identity Verification strengthens onboarding processes, preventing identity theft and ensuring secure account creation. Other opportunities that will be forthcoming from the partnership include:

  • Data syncing for enhanced risk detection
  • Ongoing monitoring and fraud prevention
  • Seamless account verification in real-time

“With consumers increasingly turning to digital solutions to manage their finances, it is critical that financial institutions are properly equipped to protect and maintain their customers”, said Tamara Romanek, Head of Partnerships at Plaid. “Partners like Sandbox Banking offer accessible innovation for financial institutions, which is a key element of impending open banking regulation. ”

By combining Plaid’s cutting-edge identity verification technology with Sandbox Banking’s forward-thinking banking solutions, the collaboration aims to elevate the standard of security, efficiency, and user experience in the financial services industry. Financial institutions leveraging this collaboration will benefit from a unified, customer-centric approach, setting new standards in the evolving financial services ecosystem.

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