At Clearco, our mission is to ensure founders get the funding they need without delay. In the fast-paced world of ecommerce, even minor delays can impact your business operations significantly. That’s why we’ve made crucial updates to enhance the process of connecting your bank accounts to Clearco, ensuring swift and seamless funding for ecommerce brands. 

Upgrading our Plaid integration & Updating Banking Page

To provide ecommerce funding, Clearco requires access to a company’s bank transaction data, which allows our systems to perform automated analysis and determine funding capacity. Companies can share this information with Clearco by connecting through Plaid or by uploading bank statements that will be reviewed by Optical Character Recognition (OCR). This makes the process of gathering revenue and banking data as seamless as possible so your business can access the funding it needs as fast as possible.

Disruptions in a Plaid connection can occur, and  prevent users from accessing their funding capacity until they successfully reconnect through Plaid. These disruptions can occur for various reasons, such as password changes, updates to multi-factor authentication (MFA), locked accounts, or failed login attempts by secondary users. When this happens, customer's need to reconnect to Plaid, through their end-to-end customer experience.

Previously, each reconnection attempt with Plaid was treated as a separate connection, leading to duplicate entries in Clearco’s system. This created inefficiencies and delayed the funding process. We’ve now resolved this issue to ensure faster and smoother funding for our customers.

Upgraded Plaid Integration

We are excited about how this will improve the customer experience. 

1️⃣ No more duplicate bank accounts: Our upgraded integration will not only do a better job of stopping duplicate account creation at the source, but will also clean-up the banking page, so only one record of a specific account is available

2️⃣ Enhanced plaid account management: This will allow users to reauthorize a connection without having to create a new one from scratch. They will also be able to remove older accounts, and name accounts more easily, all within the Clearco application. 

3️⃣ Improved in-app feedback: Our system now provides clearer in-app instructions for users attempting to connect an already linked account or manage multiple connections for the same account. 

What Does This Mean for Ecommerce Brands?

Clearco has upgraded Plaid integration that will help our customers connect existing, new, and additional bank accounts to provide the most accurate picture of funding eligibility. For those whose accounts have gone into a disconnected state and require a re-connection, you won't see any duplicate connections. This update will help to ensure eligible customers get their funding as quickly as possible. We continue to update our product frequently to add more value to our customer experience but also create a better, more efficient, and faster funding process.